By Devika Patel
Knoxville, Tenn., Aug. 6 - Innamincka Petroleum Ltd. said it raised A$3 million in a private placement of stock.
The company sold 15 million ordinary shares at A$0.20 per share.
Proceeds will be used to strengthen the company's balance sheet.
Innamincka is a Brisbane, Australia-based oil and petroleum explorer.
| Issuer: | Innamincka Petroleum Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | A$3 million
|
| Shares: | 15 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Settlement date: | Aug. 6
|
| Stock symbol: | Australia: INP
|
| Stock price: | A$0.225 at close Aug. 5
|
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