Sponsored

Bounty Oil & Gas (ASX: BUY) gets firm commitments for AU$1.15M placement

January 12, 2024 07:06 AM IST | By Sonal Goyal
 Bounty Oil & Gas (ASX: BUY) gets firm commitments for AU$1.15M placement
Image source: Company website

Highlights

  • Bounty Oil & Gas intends to raise AU$1.15 million via a share placement.
  • The placement has received substantial support from the existing major shareholders of the company.
  • The funds raised will be used for the company’s ongoing projects.

Bounty Oil & Gas NL (ASX: BUY) is raising AU$1.15 million through a share placement. The company has secured firm commitments for the placement to professional and sophisticated investors. The company has garnered substantial support and commitment from its current major shareholder base.

The funds raised will be used for the company’s ongoing projects.

Details of the placement

The placement will see issue of 128 million new shares at an issue price of AU$0.009 apiece. The issue price reflects a discount of 18.2% to the last trading price of AU$0.011 apiece and a discount of 14.2% to the 15-day VWAP of AU$0.0105.

The placement is expected to be settled on 15 January 2024.

The placement comprises one free attaching option for every one placement share, exercisable at 2.5 cents per share with expiry dated 30 November 2025.

Lead manager to the placement is 708 Capital and fees payable include 6% of the funds raised and 10 million broker options with 2.5 cents exercisable price and expiry date of 30 November 2025.

For BUY’s exploration plans, read here.  

BUY shares traded at AU$0.010 apiece at the time of writing on 12 January 2024.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

Recent Articles

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.