Norwest Energy to Raise Funds Via Security Placement and SPP

  • Nov 11, 2019 AEDT
  • Team Kalkine

Norwest Energy NL (ASX: NWE), a Perth-based oil and gas explorer, receives the commitments to raise $3.25 million via a placement of securities.

  • The company also intends to undertake a Share Purchase Plan, to further raise a $500,000, which aims to provide eligible shareholders with an opportunity to participate in the capital raising on the same terms as the Placement.
  • The raised funds would be utilised to fund the drilling cost of Norwest’s 20% interest in EP 368 in the Perth Basin.
  • NWE would further use the funds for the planning and preparation of the operations within the EP 368 and EP 426.

 

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