Emperor Energy Ltd (AU:EMP) has released an update.
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Emperor Energy Ltd has secured a $1.25 million investment through placements to institutional and sophisticated investors, with an issue price of A$0.007 per share, to advance the Judith Gas Field Project in Victoria’s Gippsland Basin. The company has appointed Argonaut as Strategic Financial Advisor to facilitate the drilling of the Judith-2 Well and to attract further investment. This move is set to make Nero Resources Fund, Perennial Value Management, and Regal Funds Management substantial shareholders, pending second tranche approval at the upcoming AGM.
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