- Vintage Energy (VEN) has requested a trading halt to finalise a potential capital raise
- Vintage has requested that trading remain halted till Monday, December 13 or until it decides otherwise
- The company recently announced a $10 million debt facility to bring the Vali field to first production
- It may be that these funds may be used in conjunction with funds in the capital raise to upgrade the Vali fields
- Vintage Energy last traded at 9.8 cents a share at market close on Wednesday
Vintage Energy (VEN) has requested a trading halt to finalise a potential capital raise.
Vintage has requested that trading remain halted till Monday, December 13 or until it decides otherwise.
The company recently announced a $10 million debt facility that will last 48 months and was signed with PURE Asset Management.
According to Vintage, the funds from the signed binding term sheet will be used to cover equity share of capital costs to take the Vali field to first production.
It may be that these funds may be used in conjunction with the funds in the capital raise to upgrade the Vali fields but this isn’t yet clear.
“This funding [facility] is an excellent outcome for Vintage and its shareholders and is further third-party validation that the Vali gas field will be commercialised,” Managing Director Neil Gibbins said.
Vintage Energy last traded at 9.8 cents a share at market close on Wednesday, December 8.