Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Flashback: Top five wildest moments from Elon Musk’s...
Less than half of DOGE-terminated contracts can be...
Jill Biden should have to answer for ‘cover...
DOGE staffing shakeup as Elon Musk hangs up...
State Dept says DOGE’s changes will be permanent...
President Trump teases ‘last day, but not really’...
Trump denounces court’s ‘political’ tariff decision, calls on...
I’m a physician and I’m worried that our...
Inside the late-night drama that led to Trump’s...
Alleged attempt to impersonate White House chief of...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

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

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

You may also like

Charbone Hydrogene securise une infrastructure de transport cle...

July 24, 2024

Couloir Capital is Pleased to Announce It Has...

April 16, 2025

Mawson Finland Limited Confirms ‘New Lens’ Continuity with...

October 16, 2024

Trigg Expands Tier-1 Australian Antimony-Gold Tenure with Grades...

March 19, 2025

Nuclear Fuels Closes Private Placement with Newly Appointed...

October 21, 2024

Fatal Incidents Claim Lives of Two Miners in...

October 16, 2024

Prismo Provides Corporate Update

February 24, 2025

AMD to Acquire ZT Systems for US$4.9 Billion...

August 20, 2024

Opawica Drill Hole Targets 2D Seismic on the...

February 13, 2025

Top 10 Countries for Natural Gas Production (Updated...

August 17, 2024

Recent Posts

  • Flashback: Top five wildest moments from Elon Musk’s DOGE tenure as it comes to an end
  • Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
  • Jill Biden should have to answer for ‘cover up’ of former president’s decline, White House says
  • DOGE staffing shakeup as Elon Musk hangs up his hat, White House confirms
  • State Dept says DOGE’s changes will be permanent amid Musk’s departure

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Categories

    • Business (751)
    • Investing (2,211)
    • Politics (2,729)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 © 2024 Sightful Invest. All Rights Reserved.