Invictus Energy raises AU$10 million to support Mukuyu-2 and seismic preparations.

Invictus Energy Limited (ASX: IVZ) stated that it had acquired firm commitments to raise AU$10.0 million through a private placement from sophisticated and institutional investors. Invictus will issue 83,333,333 new fully paid ordinary shares at an issue price of AU$0.12 per new share under the placement, reflecting a 20% discount to the last traded price of IVZ shares on 3 April 2023, the final trading date before the placement.

Participants in the placement will get a one-for-two listed option for every share issued, exercisable at AU$0.20 over three years. The transaction proceeds will be utilised to support the Mukuyu-2 appraisal well program and the Phase 2 exploration program.

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