22nd Jul 2015 08:40
LONDON (Alliance News) - 88 Energy Ltd on Wednesday said it has completed its share placing in Australia to raise AUD12 million.
88 Energy said the deal was "strongly oversubscribed" as it issued 1.2 billion shares at 1 Australian cent per share. The company's Australian-listed shares last traded at AUD0.0120. Its London-listed shares were trading flat at 0.6 pence on Wednesday.
The funds will be used to back the company's Project Icewine in Alaska.
By Sam Unsted; [email protected]; @SamUAtAlliance
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