- Pilot Energy (PGY) enters a trading halt ahead of a capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Monday, July 11, or when further details on the raise are released to the market
- PGY shares last traded at 2.05 cents per share on June 6
Pilot Energy (PGY) has entered into a trading halt ahead of a capital raise.
It is not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Monday, July 11, or when further details on the raise are released to the market.
Pilot is an energy company that is leveraging its existing oil and gas assets along with creating infrastructure to develop competitive clean energy products.
Last month, 8 Rivers Capital agreed to invest $1 million to support the development of the Mid West Clean Energy Project in WA.
Over the past year, Pilot and 8 Rivers have assessed the feasibility of deploying 8 Rivers’ clean hydrogen technology, which has been followed by a memorandum of understanding to extend the relationship into the development and execution of the project.
“The Pilot team are looking forward to continuing our strong working relationship with 8 Rivers,” Pilot Chairman Brad Lingo said in June.
“Pilot’s feasibility studies demonstrated the benefit of combining the Cliff Head CCS resources with the 8 Rivers clean hydrogen solution at our Mid West Clean Energy Project.”
PGY shares last traded at 2.05 cents per share on June 6.