These shares will be issued tomorrow 21 November leaving a shortfall of 81.03 million shares.
The shortfall is partially underwritten to the value of $5.3 million or 66.28 million shares.
Upon completion of the rights issue, underwriting and placement for shortfall, the total funds raised will be $10.4 million before costs.
READ: Kin Mining's engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws
Funding is to be used to accelerate resource growth at the Leonora Gold Project (LGP), refinement of the LGP development pathway and full repayment of the Sprott Facility.
Earlier this month, Kin released the fatal flaw analysis engineering and metallurgy reports produced by Como Engineers for the LGP.
These reports confirmed no fatal flaws with aspects of Leonora’s proposed operation and identified several opportunities to capture additional value and reduce risk.
The junior gold developer remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.