By Laura Lutz
Des Moines, May 4 - Oilex Ltd. arranged a private placement of shares for A$67.5 million.
The company plans to sell up to 50 million ordinary shares at A$1.35 each.
Hartleys Ltd. will act as agent.
Proceeds will be used for drilling, project acquisitions, retirement of existing debt and working capital.
The placement is subject to shareholder approval at a general meeting on June 6.
Oilex is a resource exploration company based in West Perth, Australia.
| Issuer: | Oilex Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$67.5 million
|
| Shares: | 50 million
|
| Price: | A$1.35
|
| Warrants: | No
|
| Agent: | Hartleys Ltd.
|
| Pricing date: | May 4
|
| Stock symbol: | A$1.60 at close May 4
|
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