ADX Energy Ltd Raises AU$4,200,000 Via Placement

ADX Energy Ltd (ASX: ADX) announced that it is raising AU$4,200,000 via a placement of 42,000,000 shares at a price of AU$0.10 per share to sophisticated, institutional and professional investors. Under the placement, the company will issue One free attaching unlisted option for every two Placement Shares.

Proceeds raised from the placement will be used towards funding of its increased economic interest in the recently commenced Anshof-2 appraisal well, installation of permanent production facilities at Anshof to enable increased production from the Anshof-3 and Anshof-2 wells, and funding towards ADX’s share of the Welchau exploration well to be drilled in Q1 2024.

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