American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Placement to Support Next Phases of Grandis Project

by admin July 25, 2024
July 25, 2024
Placement to Support Next Phases of Grandis Project

Elixir Energy Limited (Elixir or the Company) is pleased to announce that it has received binding commitments for a placement of new shares in the Company (Placement), on the following terms:

1. Placement to raise $6.25 million (before costs) through the issue of 62.5 million new shares to institutional and sophisticated investors at a price of 10 cents per share (a 13% discount to the last close and a 12.7% discount to the 5 day VWAP).

2. Placement participants will receive one (1) one of Elixir’s currently listed options (EXROBs) for every four (4) Placement Shares issued. These already listed EXROB Options have an exercise price of 12 cents and a term expiring on 17 October 2026.

HIGHLIGHTS

Over-subsribed share placement of $6.25 million to institutional and sophisticated investorsFunds to be used to support the next phases of the Grandis Project

The capital raising was strongly supported, with demand in excess of the placement size, and introduced a number of new institutional investors to the Company’s register.

The new capital raised will be deployed in the next phases of the Grandis Project – to deal with potential contingencies that might arise from the imminent multiple stage stimulation and flow testing program at the Company’s Daydream-2 well; and, position the Company for the next phases of Project Grandis – including ordering long lead items for the next well and improving the negotiating position for potential farm-out negotiations post the flow testing phase.

The 62.5 million Placement Shares will be issued under listing rule 7.1 A and the 18,750,000 Listed Options will be issued under listing rule 7.1.

The new shares are anticipated to be issued on Wednesday, 31 July 2024.

Taylor Collison Limited and Originate Capital Pty Ltd acted as Joint Lead Managers to the Placement.

Elixir’s Managing Director, Mr. Neil Young, said: “We are pleased to receive this financial support from existing and new investors to fund the final phases of the Daydream-2 program and take forward Project Grandis into its next phases. Equipment is mobilizing to the well lease and the commencement of work is now imminent.”

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Copper Price Update: Q2 2024 in Review
next post
Adisyn Ltd (ASX: AI1) – Trading Halt

Related Posts

USD/BRL forecast amid Fed and Brazil Central Bank...

December 13, 2024

Here’s why the HSBC share price crashed in...

July 30, 2025

SCHD ETF is firing on all cylinders: could...

December 2, 2024

USD/RUB: Russian ruble forecast ahead of Trump-Putin meeting

August 14, 2025

Chinese Copper Smelters to Trim Output in Response...

July 19, 2024

GLD ETF forecast as gold price forms a...

January 3, 2025

Best crypto coins to stake for 12%+ returns...

November 29, 2024

Canoo stock analysis: the end is nearing for...

November 4, 2024

JEPQ and QYLD ETFs outlook for 2025: are...

December 17, 2024

Move on Unicredit: Societe Generale stock is firing...

March 6, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Trump’s tariffs declared illegal by US court: here’s what it means and what’s next

      August 30, 2025
    • Intel accelerates CHIPS act funding, receives $5.7B ahead of schedule

      August 30, 2025
    • Zinc prices rally on US rate cut hopes, despite supply oversupply

      August 27, 2025
    • Mitsubishi exits Japanese offshore wind projects citing soaring costs

      August 27, 2025
    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025

    Categories

    • Business (3,872)
    • Investing (2,828)
    • Latest News (2,052)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved