Whitebark Energy Ltd (AU:WBE) has released an update.
Whitebark Energy Ltd has successfully completed a $500,000 share placement with sophisticated and institutional investors, and is set to offer an additional $1M in an upcoming non-renounceable Entitlement Offer to existing shareholders. The funds raised are aimed at accelerating the commercialization of the company’s Australian Geothermal assets and Geothermal to Hydrogen Production. Furthermore, the company clarified that convertible note terms will be adjusted in line with the latest capital raising efforts, potentially affecting the number of shares convertible note holders receive.
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