(NewsDirect)
Elixir Energy Ltd(ASX:EXR) MD Neil Young speaks with Proactive following the news thecompany has raised $7 million from institutional and sophisticatedinvestors in a placement. Existing shareholders will be invited toparticipate in a share purchase plan on the same terms to raise anadditional $3.5 million. The cash injection means Elixir Energy’sGrandis and Nomgon projects are now fully funded through theDaydream-2 drilling and Nomgon pilot programs.
Young, said: “We are very pleased toprocure this financial backing from existing and new shareholders tosupport our projects in Australia and Mongolia – in particular theimminent drilling of the high impact Daydream-2 well. The SPP elementof the capital raising is designed to provide all shareholders withthe opportunity to support the Company on the same terms as for thePlacement participants. We look forward to keeping all of ourshareholders well informed as we approach the spud date forDaydream-2, which we view as a pivotal catalyst in the Company’sgrowth plans”.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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