White Energy (ASX:WEC) Announces Entitlement Offer Results
Entitlement Offer Results
White Energy Company Limited has announced the results of its renounceable pro rata entitlement offer, which closed on 20 March 2025. The company raised $3,829,611.89 (before costs) by issuing 112,635,630 fully paid ordinary shares. A shortfall of 20,019,604 shares remains, with the directors reserving the right to address this within three months.
Use of Proceeds
The proceeds from the entitlement offer will be used to fund further mineral exploration across several projects, including Specimen Hill in Queensland, Robin Rise in South Australia, Tindal in the Northern Territory, and Maranoa in Queensland. Additionally, funds will support general corporate purposes, cover the costs of the offer, and potentially repay unsecured loans made by a director’s associated entity if necessary.
Share Trading
The newly issued shares are scheduled to be issued on 27 March 2025, with trading anticipated to commence on 28 March 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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