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The latest update is out from Whitebark Energy Ltd ( (AU:WBE) ).
Whitebark Energy Limited announced an update to its $2 million capital raising initiative, with Tranche 1 and 2 of the placement subject to shareholder approval. In addition to this, Whitebark Energy will not pursue an entitlement offer as previously suggested, owing to a pro-rata issue conducted in August 2024. The company is also converting a portion of debt to equity, involving an unrelated party creditor, and has agreed to pay a 6% cash fee to Joint Lead Managers from the raised capital.
More about Whitebark Energy Ltd
Whitebark Energy Limited is an ASX-listed exploration and production company with operations in low-cost oil and gas production in Canada. The company holds a substantial contingent gas resource in Western Australia and four EPG permit areas in Queensland. It has recently shifted its corporate strategy to focus on the Australian renewable energy market, alongside a management overhaul and partial sale of its Wizard Lake asset in Alberta, Canada.
Average Trading Volume: 600,691
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$1.77M
See more insights into WBE stock on TipRanks’ Stock Analysis page.
