Funds used to progress existing projects and hydrocarbon opportunities
By Devika Patel
Knoxville, Tenn., March 20 - Green Rock Energy Ltd. said it negotiated a A$1.5 million private placement of stock. Cygnet Capital is the agent.
The company will sell 300 million shares at A$0.005 per share. The price per share is a 50% discount to the March 19 closing share price of A$0.01.
Proceeds will be used to progress the company's existing priority projects and other new hydrocarbon opportunities that could create value for Green Rock's shareholders.
The West Perth, Australia, company is engaged in locating and developing low emission and base load geothermal energy resources.
| Issuer: | Green Rock Energy Ltd.
|
| Issue: | Shares
|
| Amount: | A$1.5 million
|
| Shares: | 300 million
|
| Price: | A$0.005
|
| Warrants: | No
|
| Agent: | Cygnet Capital
|
| Announcement date: | March 20
|
| Stock symbol: | Australia: GRK
|
| Stock price: | A$0.01 at close March 19
|
| Market capitalization: | A$5.41 million
|
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