Toro Energy Confirms $20-million Funding Package

Toro Energy Ltd. (ASX:TOE) announced that it has executed a binding Unitisation Agreement with The Sentient Group regarding the material terms and conditions laid out in a previous press release.

As quoted in the press release:

Signing of the Unitisation Agreement confirms The Sentient Group’s investment of $20M into Toro, consisting of a placement of $10M at $0.08 per share and the $10M unitisation funding.

As advised in yesterday’s announcement, Toro has appointed BBY to lead / co-manage a placement to sophisticated investors supported by RealFin Capital Partners Pty Ltd and Aetas Global Capital Pte Ltd brokers. In addition, Toro will offer existing Toro shareholders the opportunity to participate in a Share Purchase Plan on the same pricing terms as the placement.

Click here to read the full Toro Energy Ltd. (ASX:TOE) press release.