Investors Equity Underwriters and Alpha Securities participate in deal
By Devika Patel
Knoxville, Tenn., Jan. 30 - Oil Basins Ltd. said it has completed a A$1.25 million private placement of shares. Investors included Equity Underwriters Pty Ltd and Alpha Securities Pty Ltd.
The company sold 50 million ordinary shares at A$0.025 apiece, a 16.67% discount to the Jan. 27 closing share price of A$0.03.
Proceeds will be used for exploration and working capital and to pursue additional value-creating projects.
The oil and gas explorer is based in St Kilda, Australia.
| Issuer: | Oil Basins Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$1.25 million
|
| Shares: | 50 million
|
| Price: | A$0.025
|
| Warrants: | No
|
| Investors: | Equity Underwriters Pty Ltd and Alpha Securities Pty Ltd.
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Australia: OBL
|
| Stock price: | A$0.03 at close Jan. 27
|
| Market capitalization: | A$7.46 million
|
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