Buru Energy

Buru recognises the Traditional Owners of the land on which we operate, and we acknowledge their ongoing cultural and spiritual connections to the lands, waters, skies and communities. We pay our respects to their Elders past, present and emerging.

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Buru Energy to raise $2 million from share purchase plan

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Buru Energy Ltd (ASX:BRU, OTC:BRNGF) is aiming to raise $2 million from a share purchase plan (SPP) for its eligible shareholders, effective today.

The SPP follows a strongly supported placement which raised about A$5 million at 11.5 cents per share – reflecting strong market support for the company’s direction and strategy in advancing the Rafael project.

Set at the same issue price, the SPP allows eligible shareholders to acquire up to A$30,000 worth of new fully paid ordinary shares without any brokerage fees.

The funds raised will be used to support the ongoing appraisal and development of the company’s Rafael conventional gas and condensate discovery in the Canning Basin of Western Australia.

Read: Buru Energy secures A$5 million in placement for Rafael development; launches SPP

Read the full article on Proactive Investors