Kula Gold Completes $2.22M Institutional Equity Placement

• Equity Placement raising $2.22 million from existing institutional and sophisticated shareholders

• Funds will be used to continue activities on Woodlark Island and provide working capital for Kula Gold

• Corporate overheads cut by 60% over the next 12 month period

• The Company remains debt free and funded to advance corporate and Joint Venture opportunities and exploration activities at the Woodlark Island Gold Project