By Laura Lutz
Des Moines, May 9 - Eureka Energy Ltd. plans to conduct a private placement of shares for up to A$2 million.
The company plans to sell up to 10 million shares at A$0.20 each.
The placement will be conducted in two tranches. The first, for A$1.575 million, will be completed under the company's 15% placing capacity. The second, for A$425,000, will depend on shareholder approval.
Stripe Capital will act as agent.
Proceeds will be used for the company's Sugarloaf project and for working capital.
Eureka is an oil and gas exploration company based in Perth, Australia.
| Issuer: | Eureka Energy Ltd.
|
| Issue: | Shares
|
| Amount: | A$2 million
|
| Shares: | 10 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Agent: | Stripe Capital
|
| Pricing date: | May 9
|
| Stock symbol: | Australia: EKA
|
| Stock price: | A$0.25 at close May 9
|
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