Grand Gulf Energy Limited (AU:GGE) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Grand Gulf Energy Ltd is set to raise approximately $2 million through a placement and rights issue, targeting the expansion of its Red Helium Project and bolstering general working capital. The company has secured commitments for a $1 million placement, offering shares and options to professional investors, and plans to match this with a $1 million non-renounceable rights issue available to eligible shareholders. The fundraising efforts will see shares and options issued at $0.004 each, with the placement shares set to be issued on 28 August 2024.
For further insights into AU:GGE stock, check out TipRanks’ Stock Analysis page.