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Off-market insider buying at Kainantu Resources (:KRL)

Updated Thursday Jan 26, 2023 01:51 AM EDT

Geoff Lawrence, a Director and 10% Holder, acquired 3,689,664 Common Shares on a direct ownership basis at a price of $0.110 through a prospectus or prospectus exempt offering on January 24th, 2023. The insider also acquired 3,689,664 Warrants with an exercise price of $0.220 for 36 months. This represents a $405,863 investment into the company's shares and an account share holdings change of 30.5%.

Kainantu Resources is in the Gold Sub Industry Group under the Basic Materials Sector.

Kainantu Resources Ltd is a Canada-based gold mining exploration company. The Company is focused on three prospective gold-copper projects. Its projects include KRL South, KRL North, Kili Teke and May River project. All projects are located in mining regions in Papua New Guinea (PNG). Both KRL North and KRL South host epithermal and porphyry mineralization. KRL North and KRL South projects are located in the Kainantu region of PNG. The May River project is located approximately 15 kilometers from the PanAust owned Frieda River Project. The May River project prospects include skiraisa, Foya, Eserebe, Mountain Gate and Iku Hill. The Kili Teke project is located in the western highlands of PNG. Kili Teke project is an advanced exploration porphyry gold-copper project. Kili Teke comprises of EL 2310 and is located approximately 40 kilometers west-northwest of the Porgera Gold Mine, in the Koroba-Kopiago District of Hela Province, PNG.

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