Funds for installation process of Australia's first Opcon Powerbox
By Melissa Kory
Cleveland, May 26 - Enerji Ltd. said it completed the private placement of 55,555,556 fully paid ordinary shares, or A$1 million.
The shares will be sold at A$0.018 per share, a 10% discount from the May 26 closing price of A$0.02.
Each placemen share has an attached one-for-two unlisted option exercisable at A$0.03 and expiring on June 30, 2015. The company will issue about 27,777,778 placement options.
Enerji said it will advise all shareholders of an upcoming one-for-three rights issue of unlisted options for A$460,000. These unlisted options will have an issue price of A$0.002, will be exercisable at A$0.03 and will expire on June 30, 2015.
The proceeds will be used to further fund the installation process of Australia's first Opcon Powerbox at Horizon Power's Carnarvon Power Station.
Enerji is based in Subiaco, Australia and has the exclusive Australian sales and distribution rights to the Opcon Powerbox technology, which converts low-grade industrial-waste heat into electricity.
| Issuer: | Enerji Ltd.
|
| Issue: | Ordinary shares
|
| Shares: | 55,555,556
|
| Amount: | A$1 million
|
| Price: | A$0.018
|
| Warrants: | 27,777,778
|
| Warrant expiration: | June 30, 2015
|
| Warrant strike price: | A$0.03
|
| Pricing date: | May 26
|
| Stock symbol: | Australia: ERJ
|
| Stock price: | A$0.02 at close May 26
|
| Market capitalization: | A$11.97 million
|
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