Windy Knob to raise $900K in placement

Perth-based metals explorer Windy Knob Resources Ltd will raise $900,000 through the placement of 3 million shares at 30 cents each to fund the company's ongoing exploration commitments.

The full text of a company announcement is pasted below

The Company has received firm commitments from Sophisticated Investors for the placement of 3,000,000 shares of 30 cents each per share to raise $900,000 before costs.

Each applicant will receive one free attaching company option for every two shares subscribed for under the placement. The options will be exercisable at 20 cents on or before 31st December 2009. The issue of options is subject to shareholder approval, which will be sought at the Company's AGM.

The proceeds of the placement will be used to fund the ongoing exploration commitments of the Company.