Join our daily newsletter At The Bell to receive exclusive market insights
- Enegex (ENX) completes its share purchase plan (SPP) to raise $1.3 million
- The company will issue about 16.4 million new shares at a price of 8 cents each
- Each new share comes with an unlisted option, exercisable at 14 cents and expiring on June 30, 2024
- The funds will be used to support the company’s exploration programs and to define its drill targets
- Shares closed 1.3 per cent higher today at 7.6 cents each
Enegex (ENX) has completed its share purchase plan (SPP) to raise $1.3 million.
The company will issue about 16.4 million new shares at a price of 8 cents each.
Each new share comes with an unlisted option, exercisable at 14 cents and expiring on June 30, 2024.
The SPP gave eligible shareholder the chance to apply for a minimum of $2000 and up to $30,000 worth of new shares without paying any brokerage fees.
Enegex was originally seeking to raise $2 million and has accepted all applications.
The funds will be used to support the company’s exploration programs and to define its drill targets.
The new shares will begin trading from Monday, next week and will rank equally with existing shares.
Shares closed 1.3 per cent higher today at 7.6 cents each.
