News and Announcements
Sprint Energy Ltd _ Raises $3 Million to Develop TOMSK Asset
- Published September 06, 2012 3:07AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sprint Energy Limited (ASX: SPS, “Sprint”, “Company”) is pleased to announce the Company has received commitments to raise a gross AUD$3.0 million.
This raising has been achieved through the placement of 100 million shares at 2 cents per share for $2M to sophisticated and professional investors in Australia and internationally. A further $1M has been raised through an unsecured convertible debt instrument. The debt is convertible at a twenty five (25)% premium to the raising price, with an interest rate of eight (8)% per annum and is over a two (2) year term.
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