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...
23 October
Trump Invokes Defense Production Act as Fuel Prices Climb
US President Donald Trump declared domestic oil production, refining and fuel logistics essential to national defense on Thursday (October 22), and directed the Secretary of War to finance new capacity as fuel prices climb less than two weeks before the midterm elections.In a presidential memo,... Keep Reading...
22 October
Quarterly Activities/Appendix 5B Cash Flow Report
Kinetiko Energy (KKO:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
21 October
Angkor Resources Presents Its Proposed 2027 Work Program For Block Viii To The Cambodian Government At The Joint Review Committee
(TheNewswire) GRANDE PRAIRIE, ALBERTA (October 21, 2026) TheNewswire - GRANDE PRAIRIE, ALBERTA (October 21, 2026): Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF OTCQB: ANKOF) ("ANGKOR" OR "THE COMPANY") announces that its Cambodian energy subsidiary, EnerCam Resources Co., Ltd. ("EnerCam"),... Keep Reading...
20 October
BPH Energy Limited September 2026 Quarter Operations Report
Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX: BPH) reported progress across its energy and technology investments during the September 2026 quarter, covering Advent Energy's PEP11 appeal and onshore administration, Cortical Dynamics' development of its next-generation brain monitor,... Keep Reading...
20 October
Quarterly Activities/Appendix 4C Cash Flow Report
BPH Energy (BPH:AU) has announced Quarterly Activities/Appendix 4C Cash Flow ReportDownload the PDF here. Keep Reading...
20 October
Independent Review of Syntholene Facility Confirms World Class Proof-of-Performance, Supports Potential for Cost-Competitive Synthetic Aviation Fuel
Independent review of Iceland Demonstration Facility operating data supports the potential for Syntholene to achieve lower direct production costs than conventional fossil-derived fuels under favourable commercial operating conditions.Syntholene Energy Corp. (TSXV: ESAF) (OTCQB: SYNTF) (FSE:... 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