Company may also raise A$4.2 million through share purchase plan
By Devika Patel
Knoxville, Tenn., Dec. 20 - Geodynamics Ltd. said it settled a A$3.81 million private placement of shares. RBS Morgans, Austock and Viriathus were the agents.
The company sold 25.4 million shares at A$0.15 per share. The price per share is a 16.67% discount to the Dec. 20 closing share price of A$0.18 and is also a 20% discount to the volume-weighted average share price for the last five trading days, the company said.
The company also said it may raise another A$4.2 million through a share purchase plan.
Proceeds will be used to progress the company's Cooper Basin geothermal project.
Geodynamics is a geothermal energy company based in Queensland, Australia.
| Issuer: | Geodynamics Ltd.
|
| Issue: | Shares
|
| Amount: | A$3.81 million
|
| Shares: | 25.4 million
|
| Price: | A$0.15
|
| Warrants: | No
|
| Agents: | RBS Morgans, Austock and Viriathus
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Australia: GDY
|
| Stock price: | A$0.18 at close Dec. 20
|
| Market capitalization: | A$53.9 million
|
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