Kryso said CNMIM had now concluded its legal, financial and technical due diligence to its satisfaction.

Kryso said the conditional placing of 73,269,539 new ordinary shares at 15p apiece to CNMIM represents 29.9% of the total issued share capital and will raise 10,990,430.85 before expenses.

CNMIM will also received one warrant for each share exercisable at 21p per share.

Proceeds will be used to fund the development of the Pakrut gold project, exploration in the Pakrut licensed area and further exploration at the Hukas nickel-copper project

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