Warrents10 Sep 2020 11:50
I guess these will be cancelled next month.
RNS Number : 9696D
Mosman Oil and Gas Limited
30 October 2015
30 October 2015
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Update on STEP Acquisition
GBP1.47m Financing with US Institutional Investors
Mosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focussed oil exploration and development company, is pleased to provide an update on progress on the South Taranaki Energy Project ('STEP') in New Zealand along with an announcement of a GBP1.47 million financing with US institutional investors.
As outlined previously, Mosman has completed a strategic review on the STEP assets and identified 12 low cost value add projects that can be accelerated to increase production. The operations team continues preparation for drilling at Murchison, and will now start to identify and purchase long lead items.
The opportunity for Mosman to raise funds arose and it has entered into agreements with US institutional investors for the placement ("Placement") of 36,822,466 new ordinary shares ("New Ordinary Shares") at 4.00p per share. Additionally, for every two shares issued, the institutional investors will also be granted one warrant which may be converted on or before the five year anniversary of the issuance date into new ordinary shares at a price of 5.00 pence per share. The gross proceeds to Mosman from the sale of the ordinary shares and warrants will be GBP1.47 million (before expenses).
Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the exclusive placement agent for the Placement. Kariba Capital, a division of Trump Securities Securities, LLC, acted as US financial adviser to Mosman for the Placements.
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