Galilee Energy Updates on Proposed Securities Issue

Galilee Energy Limited (ASX: GLL) has updated the terms of its proposed private placement and pro-rata non-renounceable entitlement offer. The offer price has been revised to AU$0.012 per fully paid ordinary share, down from the previously considered AU$0.0125, by ASX pricing parameters. The maximum number of shares to be issued is now 173.37 million. The entitlement offer is fully underwritten by Canaccord Genuity (Australia) Limited, with eligible shareholders allowed to apply for additional shares through a Shortfall Offer if the initial offer is undersubscribed. The funds raised will support the proposed scheme, advance the company's assets, and cover general working capital expenses.

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