Invictus Energy Secures Binding Commitments for AU$10 Million Placement; Shares Down 18%
MT Newswires Live
Apr 21
Invictus Energy (ASX:IVZ) said it has secured binding commitments for a AU$10 million placement of about 166.7 million shares at an issue price of AU$0.06 each, according to a Tuesday filing with the Australian bourse.
Settlement of the placement is expected on April 28, and the company plans to use the proceeds to finance further works at its 80%-owned Cabora Bassa oil and gas exploration project in northern Zimbabwe, per the filing.
Shares of Invictus Energy were down 18% in recent Tuesday trade.
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