King River Copper Ltd (ASX:KRC) will receive a tax credit of up to $306,021 which will be distributed to eligible shareholders.
This follows the company's application being accepted to participate in the Australian Taxation Office EDI scheme.
EDI tax credits will be distributed to shareholders as tax credits for the 2017/18 tax year.
To be eligible to receive a pro-rata distribution of EDI tax credits, shareholders must be on the company’s register at the close of trading on Thursday 31 May 2018.
The EDI tax credits will apply to the 2017/18 tax year and must be issued by 30 June 2018.
King River currently has 1,171,931,305 shares on issue, equating to an EDI distribution of 0.03 cents per share.
This follows the company rewarding shareholders by way of 1 free option for every 3 shares held.
The options have an exercise price of 10 cents anytime up until 30 June 2020, and the record date will likely be the second week of July 2018.
King River is currently undertaking a drilling program at the Mt Remarkable project in Western Australia.