HIGHLIGHTS
- Tranche 2 of US$10 million Zimbabwe Strategic Capital Raise completed at AU$0.10 per share
- Additional US$2 million in oversubscriptions accepted by the Company
- Strong demand from Institutional and Private Investors demonstrates long-term local support for Cabora Bassa Project
- Participants will be issued new Zimbabwe Depository Receipts (ZDRs) on the Victoria Falls Stock Exchange (VFEX) to support local liquidity and demand
Invictus Energy has announced that following shareholder approval at the Extraordinary General Meeting held on 21 October 2024, the second tranche of the US$10 million Institutional Placement managed by Mangwana Capital as announced to the ASX on 29 July 2024 has been completed.
Due to strong demand, the Company also accepted an additional US$2 million in oversubscriptions on the same terms. Tranche one of the Placement was partially underwritten by the Mutapa Investment Fund of Zimbabwe which was completed in August 2024.
This strategic investment is historic for both Invictus and investors in Zimbabwe, who can now hold and trade securities in the Company through its secondary listing on the Victoria Falls Stock Exchange (VFEX: INV).
Invictus Energy Managing Director Scott Macmillan commented: 'The completion of this strategic capital raise is testament to the strong investor confidence in our Cabora Bassa Project and its potential to drive transformative growth in Zimbabwe’s energy landscape. We are grateful for the enduring and overwhelming local and institutional support. With the capital secured, we are equipped to accelerate the next phase of our exploration and development activities at the Cabora Bassa Project. We remain committed to delivering long-term value for our shareholders and contributing to Zimbabwe’s energy independence and economic growth.'
Source: Invictus Energy
