Kiwara announces investor intention to buy $6 million shares, warrants

By Devika Patel

Knoxville, Tenn., April 29 - Kiwara plc announced that International Finance Corp. may buy $6 million of the company's shares.

The shares will be accompanied by warrants.

Proceeds will be used to finance the company's exploration of the Kalumbila, Kawako and other regional targets within Prospecting Licence 267 in north western Zambia.

"This proposed investment is of a sufficient magnitude to allow the company to release value in the project. To have IFC as a strategic investor would give the Kiwara management team the confidence and support to embark on an aggressive exploration campaign directed towards resource definition and thereafter mine development," chairman Colin Bird said in a press release.

Kiwara is a Surrey, England-based natural resources explorer.

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