Invictus Signs Binding Share Subscription Agreement With Zimbabwe Institutional Investor

  • Apr 30, 2020 AEST
  • Team Kalkine

An independent oil & gas explorer dedicated on high impact energy resources in sub-Saharan Africa, Invictus Energy Limited (ASX:IVZ) has entered into a binding share subscription agreement with the Mangwana Opportunities Fund, a Zimbabwe institutional investor managed by Mangwana Capital.

The share subscription agreement raises the equivalent of $0.44 million by issuing 12.5 Mn shares at $0.035 per share. While, the condition precedent to the placement completion and subscription agreement subject to approval by the Reserve Bank of Zimbabwe Exchange Control is expected shortly. The agreement makes provision for additional equity investment by Mangwana for IVZ’s Cabora Bassa Project over the next 12-24 months.

Funds raised will be used to advance the Project’s ground activity and preparatory works in the project area, CSR program within the Muzarabani and Mbire Districts and other in-country activities.

IVZ has also onboarded Mr. Joe Mutizwa, Mangwana Capital’s current chairman, as a Director of IVZ’s 100% owned local subsidiary Invictus Energy Resources Zimbabwe Pty Ltd.

IVZ is trading at $0.026, up 4% (12:45 PM AEST).


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK