By Devika Patel
Knoxville, Tenn., April 9 - Empyrean Energy plc said it conditionally raised £1.5 million in a private placement of shares.
The company will sell 25 million ordinary shares at 6p each.
Astaire Securities plc is the broker.
Proceeds will be used for development at the Riverbend, Hercules and Sugarloaf projects in Texas and the Eagle Oil project in California and for general working capital.
Based in London, Empyrean is an oil and natural gas exploration and development company.
| Issuer: | Empyrean Energy plc
|
| Issue: | Ordinary shares
|
| Amount: | £1.5 million
|
| Shares: | 25 million
|
| Price: | 6p
|
| Warrants: | No
|
| Broker: | Astaire Securities plc
|
| Announcement date: | April 9
|
| Stock symbol: | London: EME
|
| Stock price: | 6.75p at close April 9
|
| Market capitalization: | £8.83 million
|
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