Deal with CNOOC Galilee Gas sells 62,103,664 shares at A$0.172 apiece
By Devika Patel
Knoxville, Tenn., Sept. 10 - Exoma Energy Ltd. said it plans a A$10.68 million private placement of stock with CNOOC Galilee Gas Co. Pty Ltd.
The investor will buy 62,103,664 ordinary shares at A$0.172 per share, a 91.11% premium to A$0.09, the closing share price on Sept. 7 and also is based on the 90-day volume-weighted average price at the close of business on Aug. 10, plus 25%, the company said in a press release.
In addition, Exoma has agreed to issue additional shares at the same price to raise CNOOC's holding in Exoma to 19.9%. CNOOC's option to purchase these shares must be exercised within five days of the initial placement.
Exoma is an oil and gas exploration company in Brisbane, Australia.
| Issuer: | Exoma Energy Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$10,681,830
|
| Shares: | 62,103,664
|
| Price: | A$0.172
|
| Warrants: | No
|
| Investor: | CNOOC Galilee Gas Co. Pty Ltd.
|
| Pricing date: | Sept. 10
|
| Stock symbol: | Australia: EXE
|
| Stock price: | A$0.09 at close Sept. 7
|
| Market capitalization: | A$40.48 million
|
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