Marenica raises capital for exploration work
Junior Marenica Energy will raise A$1-million after receiving binding commitments for a placement to professional and sophisticated investors.
The ASX-listed company will place 26.35-million shares, at a price of 3.8c each and 26.35-million free attaching options over two tranches. The first tranche will consist of more than 13.15-million shares and will be issued under the company’s existing capacity, while the balance of the shares will be placed in the second tranche, subject to shareholder approval.