By Devika Patel
Knoxville, Tenn., July 22 - New Standard Energy Ltd. said it plans a A$4.5 million private placement of shares. It also plans a A$2 million share purchase plan.
In the private placement, the company will sell 31 million ordinary shares at A$0.145 apiece.
Proceeds will be used for exploration, drilling and working capital.
The oil and gas explorer is based in West Perth, Australia.
| Issuer: | New Standard Energy Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4,495,000
|
| Shares: | 31 million
|
| Price: | A$0.145
|
| Warrants: | No
|
| Pricing date: | July 22
|
| Stock symbol: | Australia: NSE
|
| Stock price: | A$0.155 at close July 22
|
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