By Region,Australia & Oceania,By Region,Finance - May 29, 2009
Petratherm raises US$ 5.8 million in share purchase/ placement
written by: lxrichter
Reported in Australia, Petratherm (ASX:PTR) has raised a total of AUD 7.4m (USD 5.8m) from a share purchase plan that closed on May 8 and a placement exercise.
The company had announced “its shareholder purchase plan on April 9 that closed on May 8 raised AU$4.33m at 26c a share before costs (subject to cleared funds in the company’s bank account).
Also, the company today raised $3.08m at 32c a share before costs from a placement to clients of Taylor Collison Ltd.
“The company is encouraged by the ongoing support from its shareholders and brokers, as evidenced by the positive uptake of these offers,” chairman Mr Derek Carter said, “especially as the Petratherm SPP offer was one of many seeking limited shareholder funds in a competitive and difficult market.”
Funds raised will be applied to ongoing exploration and development of the company’s projects, in particular the flagship Paralana project in South Australia.”
Source: American Chronicle
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