By Devika Patel
Knoxville, Tenn., June 22 - Kairiki Energy Ltd. said it plans to raise A$7 million in a private placement of shares.
The company will sell 50 million shares at A$0.14 per share via Southern Cross Equities Ltd.
The company will use the proceeds to fund its SC54 project and for working capital purposes.
Kairiki is a West Perth, Australia-based oil and gas exploration company.
| Issuer: | Kairiki Energy Ltd.
|
| Issue: | Shares
|
| Amount: | A$7 million
|
| Shares: | 50 million
|
| Price: | A$0.14
|
| Warrants: | No
|
| Agent: | Southern Cross Equities Ltd.
|
| Pricing date: | June 22
|
| Stock symbol: | Australia: KIK
|
| Stock price: | A$0.185 at close June 22
|
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