Krakatoa Resources Limited announced a private placement of 37,209,303 ordinary shares at an issue price of AUD 0.043 per share for the gross [proceeds of AUD 1,600,000 on November 29, 2023. The transaction will include participation from new investor Topdrill Pty Ltd for AUD 600,000 which is subject to 6 month voluntary escrow from issue and no capital raising fees are to be paid on these funds. The closing of the private placement shares is anticipated to occur on or about 6 December 2023.

The company will pay a 6% capital raising fee on the funds raised, excluding the drill equity.