Transerv Energy to raise $2m
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Tuesday, 24 February, 2009 - 10:06
Perth-based oil and gas explorer Transerv Energy says it will raise $2 million through a share placement, with funds to boost the company's working capital and go towards new investment opportunities.
The company today said it has received commitments to place 100 million shares at two cents each, with each share to come with one free attaching option exercisable at 2.5c each before January 30 2011/
The issue will take place under the company's existing 15 per cent placement capacity.
Shares in Transerv were unchanged at 2.3c at 12:15 AEDT.
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