Jadestone Energy, an independent oil and gas production company focused on the Asia-Pacific region, has announced the successful completion of the US$85 million financing announced on 6 June 2023, which consisted of a net US$50 million Placing and Subscription, at a price of 45 pence per new Ordinary Share, and the Standby Working Capital Facility by Tyrus Capital S.A.M. and funds controlled by it.
Further, the Company today confirms the details of the Open Offer to raise gross proceeds of up to approx. US$8.3 million, offering existing shareholders who have not participated in the Placing an ability to acquire shares at the Offer Price.
Paul Blakeley, President and CEO commented:
'I would like to thank all participating shareholders for their support in this financing which, alongside the RBL, now underpins our near-term production growth and the diversification of our production and revenue base, improving the resilience and the outlook for the Company significantly. Now that routine operations have been restored at Montara, and with a visibly stronger balance sheet, we have great confidence in delivering the Company’s growth trajectory.'
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Source: Jadestone Energy
