AI assistant
ADX ENERGY LTD — Capital/Financing Update 2013
Oct 15, 2013
64308_rns_2013-10-15_2cc4ef40-9e5b-476c-b338-ff5badbf1cd2.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
15 October 2013
ADX: Placement to Raise $1.02 million
ADX Energy Limited (ASX:ADX) is pleased to announce that it has resolved to raise $1.02 million pursuant to the issue of 60 million shares at 1.7 cents per share to one institutional investor (“Placement”). The Placement will be made under the Company’s ASX Listing Rule 7.1 15% capacity.
The funds raised, in conjunction with the Company’s current cash resources, will be used to fund the Company’s general exploration expenditures and for working capital purposes.
ADX Energy Managing Director Wolfgang Zimmer said “we are very pleased to bring this institutional investor onto the register and have their support for our active program over the next couple of years”.
The Placement is scheduled to settle on 21 October. After settlement and issue of new shares the Company will have 545,367,175 shares on issue.
For further details please contact : Wolfgang Zimmer Ian Tchacos Managing Director Chairman +61 (08) 9226 2822 +61 (08) 9226 2822