King River Copper offers shareholders bonus options as a ‘reward’ for support

Date: Jul 16, 2018

King River Copper Ltd (ASX:KRC) is offering shareholders free bonus options as a ‘reward’ for supporting the company in its vanadium strategy boosted by gold.

Today is the last day to buy King River shares, which will allow for participation in the bonus option offer.

The explorer in May announced that it would ‘reward shareholders’ with the bonus option issue.

One option for every three shares held

It is giving shareholders one bonus option exercisable at 12 cents by the end of July 2020 for every three shares held.

Shares last traded at 11.5 cents.

Investors will have two years to decide whether or not they want to convert the options to shares.

The offer will result in almost 413 million options being issued and if all are exercised, the maximum amount that will be raised is more than $49.5 million.

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