By Marisa Wong
Milwaukee, Jan. 21 - Impress Energy Ltd. said it is finalizing a A$3 million private placement of shares.
The company sold 60 million shares at A$0.05 each to sophisticated investors.
In addition to the placement, Impress plans to raise A$3 million through a share purchase plan offered to eligible existing shareholders.
Proceeds will be used to fund an accelerated drilling program.
Based in Perth, Western Australia, Impress Energy is an oil and gas company.
| Issuer: | Impress Energy Ltd.
|
| Issue: | Shares
|
| Amount: | A$3 million
|
| Shares: | 60 million
|
| Price: | A$0.05
|
| Warrants: | No
|
| Announcement date: | Jan. 21
|
| Stock symbol: | Australia: ITC
|
| Stock price: | A$0.053 at close Jan. 21
|
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