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
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
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...
11h
Trading Halt
BPH Energy (BPH:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
11h
Trading Halt
MEC Resources (MMR:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
16 June
Syntholene Energy Corp. Appoints Former Suncor, Shell Operations Executive Marc Mageau to Advisory Board
Mageau Brings Extensive Oil and Gas Network and Experience in the Design, Construction, and Operations of Fuel Production InfrastructureSyntholene Energy CORP. (TSXV: ESAF,OTC:SYNTF) (OTCQB: SYNTF) (FSE: 3DD0) ("Syntholene" or the "Company") announced today the appointment of Marc Mageau to the... Keep Reading...
16 June
Angkor Resources' Subsidiary Implements Playgrounds For Rural Schools In Block VIII Drilling Area, Cambodia
(TheNewswire) GRANDE PRAIRIE, ALBERTA (June 16, 2026) TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") is pleased to announce that its Cambodian energy subsidiary, EnerCam Resources Co., Ltd. ("EnerCam"), is installing children's playground equipment at... Keep Reading...
16 June
Charbone Annonce l'Ajout de 22 Nouveaux Clients d'Helium au Quebec et Poursuit l'Expansion de sa Plateforme de Gaz Industriels
(TheNewswire) Varennes (Québec) TheNewswire - le 16 juin 2026 - CORPORATION Charbone (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« Charbone » ou la « Société »), une entreprise verticalement intégrée spécialisée dans les gaz industriels, axée sur la production, la distribution et le stockage... Keep Reading...
16 June
CHARBONE Announces the Addition of 22 New Helium Customers in Quebec and Continues the Expansion of its Industrial Gas Platform
(TheNewswire) Varennes, Quebec TheNewswire - June 16, 2026 Charbone CORPORATION (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) ("Charbone" or the "Company"), a vertically integrated industrial gases company focused on production, distribution and storage of clean ultra-high purity ("UHP") hydrogen... 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