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
INN Article Notification
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...
3h
EnerCom Opens Registration for the 31st Annual Energy Investment Conference August 17-19, 2026 in Denver, Colorado
Investors are encouraged to register for EnerCom Denver The Energy Investment Conference featuring a broad group of public and private energy companiesSponsorship opportunities are available for companies seeking to increase their market presence DENVER, April 13, 2026 /PRNewswire/ -- EnerCom,... Keep Reading...
5h
QIMC Details Multiple Shallow Hydrogen-Bearing Zones in Drill Hole 26-02 and Advances Integrated Interpretation of Holes 1 and 2; Drill Hole 2 to be Extended to 700 Metres; Drill Mobilized for Hole 3
Integrated drilling and downhole datasets delineate structurally controlled hydrogen system across multiple domains in Hole 26-02 guiding deeper targetingQuébec Innovative Materials Corp. (CSE: QIMC,OTC:QIMCF) (OTCQB: QIMCF) (FSE: 7FJ) ("QIMC" or the "Company") is pleased to provide an update on... Keep Reading...
10 April
Quebec Innovative Materials Corp. Announces U.S. Affiliate Orvian Receives Minnesota DNR Registration for Exploratory Boring
Advances U.S. Expansion Strategy Across State-Allocated Township Assets in the Duluth Complex and Mesabi Iron RangeQuébec Innovative Materials Corp. (CSE: QIMC,OTC:QIMCF) (OTCQB: QIMCF) (FSE: 7FJ) ("QIMC" or the "Company") is pleased to announce that its U.S. affiliate, Orvian Natural Resources... Keep Reading...
09 April
Valeura Energy Inc. Announces Q1 2026 Operations Update
CALGARY, AB / ACCESS Newswire / April 9, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) ("Valeura" or the "Company") provides an operations and financial update for Q1 2026.HighlightsOil production averaged 22.3 mbbls/d(1);Sales of 1.394 million bbls (all occurring during January... Keep Reading...
09 April
Valeura Energy Inc. Announces Q1 2026 Operations Update
CALGARY, AB / ACCESS Newswire / April 9, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) ("Valeura" or the "Company") provides an operations and financial update for Q1 2026.HighlightsOil production averaged 22.3 mbbls/d(1);Sales of 1.394 million bbls (all occurring during January... Keep Reading...
08 April
Oil Plunges Below US$100 as US and Iran Strike Two-Week Ceasefire
Global markets reversed course on Wednesday (April 8), with oil suffering its steepest daily plunge since the pandemic following a breakthrough two-week ceasefire agreement between the US and Iran. Brent crude, the international benchmark, tumbled 15.5 percent to US$92.28 a barrel, shedding... 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