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ADX ENERGY LTD — Capital/Financing Update 2014
Oct 13, 2014
64308_rns_2014-10-13_42128697-54c4-4281-81ee-4674907dc4a6.pdf
Capital/Financing Update
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ASX Release
14 October 2014
ADX: Placement to Raise $750,000
ADX Energy Limited (ASX:ADX) is pleased to announce the completion of a placement of 83.3 million new shares at 0.9 cents per share to raise gross proceeds of $750,000.
The funds raised in conjunction with the Company’s current cash resources will primarily be used to fund the Company’s exploration work programs in Tunisia and Romania as well as to augment working capital.
ADX currently has 545,367,175 shares on issue. The Placement is unconditional and is expected to settle on Monday 20 October 2014. BBY Limited (“BBY”) was the lead manager for the placement.
A Share Purchase Plan (SPP) will be offered to existing shareholders for 27.8 million new shares at 0.9 cents per share to raise up to $250,000. The record date for the SPP is 13 October 2014. Further details in relation to the SPP will be announced today.
For further details please contact
Wolfgang Zimmer Ian Tchacos Managing Director Chairman +61 (08) 9226 2822 +61 (08) 9226 2822