The Conversation (0)
December 12, 2023
Elixir Energy Limited (Elixir or the Company) is pleased to announce that it has received binding bids for a placement of new shares in the Company (Placement), on the following terms:
1. Placement to raise $6.5 million (before costs) through the issue of ~76 million new shares to institutional and sophisticated investors at a price of 8.5 cents per share (a 15% discount to the last close and a 17% discount to the 5 day VWAP).
2. Placement participants will receive one (1) of Elixir’s currently listed options (EXROB) for every three (3) Placement Shares issued. The EXROB Options have an exercise price of 12 cents and a term expiring on 17 October 2026.
HIGHLIGHTS
- Share placement of $6.5 million to institutional and sophisticated investors
- Funds primarily to be used to expand imminent Daydream-2 stimulation and testing program
Taylor Collison Limited and Originate Capital Pty Ltd acted as Joint Lead Managers to the Placement.
Given a share purchase plan (SPP) was offered to shareholders less than 3 months ago, the Company has decided not to repeat an SPP offer at this time.
The new capital raised will primarily be used to expand the multiple stage stimulation and flow testing program at the Company’s Daydream-2 well, including pursuing new options arising from the recent free gas flow announced on 7 December 2023.
The new shares are anticipated to be issued on 19 December 2023.
Elixir’s Managing Director, Mr. Neil Young, said: “Following last week’s very exciting news of free flowing gas from Daydream-2, we are pleased to procure this financial backing from existing and new shareholders. Although our balance sheet is in good shape anyway, this raising will allow us to aggressively pursue an expansion of the stimulation and testing plans at Daydream-2”.
Click here for the full ASX Release
This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EXR:AU
02 May 2024
Elixir Energy
Early-mover in natural gas exploration and appraisal in Australia and Mongolia.
Early-mover in natural gas exploration and appraisal in Australia and Mongolia. Keep Reading...
07 January
Hydrogen's Role in Addressing Australia’s Energy Crisis
Faced by challenges of a continuing energy crisis, Australia stands at a pivotal crossroads in its transition towards a low-carbon future. This article delves into the critical role that clean hydrogen could play in addressing Australia's energy challenges. For investors, understanding these... Keep Reading...
05 January
US Oil Stocks Gain as Venezuela Intervention Stirs Uncertainty
Oil prices moved uneasily at the start of the week as market participants digested the implications of a sudden US intervention in Venezuela over the weekend. Brent crude slipped as much as 1.2 percent in early trading on Monday (January 5), falling to around US$60 per barrel before recovering... Keep Reading...
05 January
Angkor Resources Signs Definitive Agreement to Sell Evesham Oil Production
(TheNewswire) GRANDE PRAIRIE, ALBERTA TheNewswire - January 5, 2026 - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") is pleased to announce that it has completed the Definitive Agreement ("Agreement") with an arm's length party (the "Purchaser") to sell its 40%... Keep Reading...
01 January
Josef Schachter: Oil Stock Buy Signal Approaching, 3 Triggers to Watch
Josef Schachter, president and author at the Schachter Energy Report, shares his thoughts on oil and natural gas prices, supply and demand in 2026. "I think before the cycle is over, the 2007 high of US$147 (per barrel) will be breached, because the industry cannot respond quickly by bringing on... Keep Reading...
24 December 2025
5 Best-performing Canadian Oil and Gas Stocks
The oil and gas sector closed 2025 amid sharp swings, as ample supply and uneven demand weighed on prices.Crude benchmarks trended lower through the year, with rising output from non-OPEC producers, led by record US production, and higher OPEC+ quotas creating a persistent supply overhang.After... Keep Reading...
22 December 2025
5 Biggest ASX Oil and Gas Stocks
Oil and gas are key energy fuels, and ASX-listed oil and gas stocks could benefit from their price moves. For the most part, 2025 was a volatile year for both the oil and gas markets. In the first half of the year, oil prices posted moderate gains, spurred on by rising tensions in the Middle... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00