Blumont

Blumont - Group announced that it has entered into a conditional Placement Offer Letter with Cokal Limited to subscribe up to 60.1m new shares, constituting ~14.61% of the existing issued share capital of CKA (being up to 12.75% of the enlarged issued share capital of CKA after the issue of the CKA New Shares) at a placement price of A$0.16 for each CKA New Share amounting up to A$9.6m. The Subscription is intended to be applied towards the planned drilling and detailed engineering plans for CKA’s BBM Project and general corporate purposes of CKA. The Placement Consideration will be fully satisfied in cash, funded from the internal resources of the Group, and be paid to the Issuer on the date of completion of the Subscription. CKA is listed on the ASX and the principal activity of CKA is in coal exploration. CKA holds interests in coal exploration tenements in predominately in Indonesia with some other interests in Tanzania and Kalimantan.