18th Nov 2020 19:28
88 Energy Ltd - Australian exploration & production company - raises AUD10 million through placing of 1.67 billion shares at a price of 0.06 Australian cents each, around 0.33 pence.
Proceeds will go towards funding the ongoing evaluation of the prospectivity of its existing assets, as well as identify new opportunities in the North Slope of Alaska. Will go be used to bolster company's balance sheet.
Cenkos Securities acted as bookrunner in UK placing, and EurozHartleys in the Australian placing.
88 Energy will have 10.60 billion shares issued overall.
Current stock price: 0.36 pence
Year-to-date change: down 73%
By Dayo Laniyan; [email protected]
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