By Devika Patel
Knoxville, Tenn., Oct. 31 - Linc Energy Ltd. said it has raised A$28.3 million in a private placement of shares.
The company sold 37.26 million ordinary shares at A$0.76 per share.
Proceeds will be used for a feasibility study, purchasing and installing a nitrogen rejection plant, expansion of the company's engineering, drilling of coal tenements and general working capital.
Linc Energy is a Brisbane, Australia-based energy company that develops and commercializes underground coal gasification technology.
| Issuer: | Linc Energy Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$28.3 million
|
| Shares: | 37.26 million
|
| Price: | A$0.76
|
| Warrants: | No
|
| Settlement date: | Oct. 31
|
| Stock symbol: | Australia: LNC
|
| Stock price: | A$0.875 at close Oct. 31
|
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