By Sheri Kasprzak
New York, May 31 - Elixir Petroleum Ltd. is gearing up to settle a A$2.6 million private placement.
Sophisticated investors agreed to buy 6.5 million shares at A$0.40 each.
Argonaut Securities Pty. Ltd. is the placement agent for the offering, which is scheduled to close on June 6.
The proceeds will be used for opportunities within the company's existing portfolio of properties.
Based in Subiaco, Western Australia, Elixir is an oil and natural gas exploration company.
| Issuer: | Elixir Petroleum Ltd.
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| Issue: | Stock
|
| Amount: | A$2.6 million
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| Shares: | 6.5 million
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| Price: | A$0.40
|
| Warrants: | No
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| Placement agent: | Argonaut Securities Pty. Ltd.
|
| Announcement date: | May 31
|
| Settlement date: | June 6
|
| Stock symbol: | Australia: EXR
|
| Stock price: | A$0.45 at close May 31
|
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