15/07/2013 - 10:33

Jacka Resources raises over $3m

15/07/2013 - 10:33

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Jacka Resources raises over $3m

Subiaco based oil and gas explorer Jacka Resources has raised $3.25 million through the issuing of 38.5 million shares.

The placement, at 8.5 cents a share, is a 2 cent discount from the company's current share price of 10.5 cents.

Investors who particiapted in the placemtn will also recieve one free attaching unlisted option, exercisable at 14 cents on or before February 1st.

DJ Carmichael acted as Lead Manger and Bookrunner to the placement. 

The company has said it will use the funds on its Hammamet West-3 drilling program in Tunisia and to up the company's capital for the post well period.

Jacka's chairman, Scott Spencer, said the capital raising would enable the company to reap the benefits of a financially challenging but technically encouraging drilling program.

 

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