March 16 (Reuters) - King Island Scheelite Ltd KIS.AX :
* KIS RAISES $5.6M IN STRONGLY SUPPORTED PLACEMENT-KIS.AX
* PLACEMENT OF 28 MILLION SHARES AT $0.20 PER SHARE
* WILL APPLY FUNDS RAISED TO PAYING OFF TERM DEBT OF $4.7 MILLION
March 16 (Reuters) - King Island Scheelite Ltd KIS.AX :
* KIS RAISES $5.6M IN STRONGLY SUPPORTED PLACEMENT-KIS.AX
* PLACEMENT OF 28 MILLION SHARES AT $0.20 PER SHARE
* WILL APPLY FUNDS RAISED TO PAYING OFF TERM DEBT OF $4.7 MILLION