The offer will include a 1:2 attaching option exercisable at $0.40 with a 2-year expiry date.
The offer opens on the 20th February, and is expected to close on the 20th March. New shares to be issued on the 31st March.
Funds will be used to fast-track the Leonora Gold Project Definitive Feasibility Study, secure opportunistic infrastructure acquisitions as they arise and provide additional working capital.
The Feasibility Study is on track for completion in the middle of this year with first gold production scheduled for mid-2018.
In other Kin news, long-standing managing director, Trevor Dixon, has been appointed non-executive chairman, replacing Terry Grammer, who has resigned from the board.
Don Harper has been appointed managing director.