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DIGITALX LIMITED — Capital/Financing Update 2011
Oct 12, 2011
64762_rns_2011-10-12_b2ad72b7-e200-48c4-b050-9795fae0316a.pdf
Capital/Financing Update
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ASX Announcement
13 October 2011
VERUS ANNOUNCES SUCCESSFUL PRIVATE PLACEMENT
Verus Investments Ltd (“Verus” or the “Company”) is pleased to announce that it will raise an estimated $785,000 before costs through a private placement of shares to professional and sophisticated investors.
The Company is pleased to confirm that it has received best endeavor commitments for the issue of ~131m shares at 0.6 cents and 65.5m free attaching listed options (ASX: VILO) to raise ~$785,000. The placement, which is being undertaken pursuant to S708 of the Corporations Act (Cwth) 2001, falls within the Company’s 15% placement capacity under ASX Listing Rule 7.1 and is not subject to shareholder approval.
The Verus Board considers it prudent to raise additional capital at this time. The placement will be allocated toward Sidi Dhaher drilling AFE overruns and suspension costs, Chorbane block operator non AFE costs, well and log analysis for Sidi Dhaher, ongoing drilling and development activities at its onshore oil and gas investments in the USA (Louisiana and Texas), as well as for working capital and general corporate purposes.
For further information regarding the Company’s activities, please contact:
| Mr. GregoryLee | Mr. Nathan Ryan |
|---|---|
| Executive Director | NWR Communications Investor Relations |
| Tel:(+61 8)9240 8645 | Tel:(+61 0)420 582887 |
Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021 Postal Address: PO Box 717, Balcatta, Western Australia 6914 Phone: +61 (0)8 9240 8645 Fax: +61 (0)8 9240 2406 Email: [email protected] Web: www.verus.com.au