AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
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.