Australia's Kiland surges on commitments for equity capital raise

Kiland

09/11/2022 24:15

** Shares of Australia's Kiland  KIL.AX  rise as much as
3.7% to A$1.4, set to gain most since Aug 30, if gains hold
    ** The forestry management co receives commitments to raise
at least A$6 million($3.90 million) and upto A$10 mln in equity
capital  urn:newsml:reuters.com:*:nASX6qNmZ0
    ** Co's unit Nobrac, also enters into an agreement to
deliver harvested biomass to Ki Carbon Ltd for a nominal tolling
fee
    ** Co further provided a shareholder loan facility of up to
A$10 mln to Nobrac
    ** Stock hits its highest since Sept 1 
    ** Stock has risen 1.3% this year as of last close
($1 = 1.5368 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))