By Sheri Kasprzak
New York, July 25 - Nexus Energy Ltd. wrapped a private placement for A$13.8 million.
The company sold 22,258,064 shares at A$0.62 each to institutional and sophisticated investors in the placement.
Tolhurst Noall Ltd. was the placement agent.
Nexus raised another A$1.3 million under a shareholder placement prospectus. The qualified shareholders bought 2,096,774 shares at A$0.62 each. The shareholders had been granted the right to buy up to 8,000 shares each for up to A$16.4 million in proceeds.
The proceeds from both offerings will be used to accelerate drilling at the Crux appraisal well offshore Western Australia.
Nexus, located in Melbourne, Australia, is an oil and natural gas exploration company.
| Issuer: | Nexus Energy Ltd.
|
| Issue: | Stock
|
| Amount: | A$13.8 million
|
| Shares: | 22,258,064
|
| Price: | A$0.62
|
| Warrants: | No
|
| Placement agent: | Tolhurst Noall Ltd.
|
| Settlement date: | July 25
|
| Stock symbol: | Australia: NXS
|
| Stock price: | A$0.60 at close July 25
|
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