Emperor Energy Announces AU$1.25 million Capital Raise through Institutional Placement

Highlights:

• Capital Raise: Emperor Energy (ASX: EMP) is securing AU$1.25 million through a placement to support ongoing development initiatives.
• Issue Price: The new shares will be issued at AU$0.02 per share, representing a discount to the last traded price.
• Use of Funds: The capital raised will be allocated to progressing exploration and development activities, particularly within the company's gas projects.

Emperor Energy Limited (ASX: EMP) has successfully secured firm commitments for a capital raise of AU$1.25 million via a placement of approximately 178.6 million fully paid ordinary shares at AU$0.007 per share. The placement attracted significant interest from institutional investors including Nero Resources Fund, Perennial Value Management, and Regal Funds Management, who are set to become substantial shareholders.

Institutional Backing and Strategic Financial Advisory

The funds were raised through a strategic institutional placement, with Argonaut, a leading financial advisory firm, acting as the Lead Manager. Alongside its role in the placement, Argonaut has been appointed as the strategic financial advisor to drive the development of Emperor Energy’s Judith Gas Field Project in the EP Vic/P47 permit area, located offshore in the Gippsland Basin.

Capital Deployment and Next Steps

Proceeds from the capital raise will be primarily allocated to advancing the Judith Gas Field Project, which boasts significant gas resources, and for general working capital. The project holds 2C Contingent Resources of 198 BCF and a Prospective Resource of 2.2 TCF, positioning it as a key future supplier for the South-Eastern Australian market. The strategic advisory appointment aims to bring together an investment consortium to develop the Judith-2 Well, marking a major step forward in the project’s progression.

This placement represents a strong vote of confidence in Emperor Energy’s assets and the future potential of its gas field development strategy.

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