Whitebark Energy Raises Share Placement

Whitebark Energy Limited has announced that firm placement commitments have been received from professional and sophisticated investors to raise approximately A$1,850,000 before costs.

The placement of circa 154 million ordinary fully paid shares at A$0.012 (1.2 cents) will be completed pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1 (70,640,234 shares) and the additional 10% placement capacity under Listing Rule 7.1A (83,526,433 shares).

Funds raised pursuant to the share placement will be used to fund the Company’s acquisition and drilling plans and for general working capital.

DJ Carmichael Pty Limited acted as Lead Manager to the issue.


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