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Botala to raise A$1.25m through new share placement
ASX- and BSE-listed coal exploration and development company Botala Energy has secured firm investment commitments from institutional, sophisticated and professional investors to raise A$1.25-million before costs through the sale of new fully paid ordinary shares at A$0.059 a share. The funds raised will support several key initiatives. These include continuing the testing of gas flow rates at Project Pitse, in Botswana; expanding the company’s exploration and evaluation activities; and progressing to the next phase of a detailed study aimed at producing liquefied natural gas (LNG) for the greater Johannesburg area.
ASX- and BSE-listed coal exploration and development company Botala Energy has secured firm investment commitments from institutional, sophisticated and professional investors to raise A$1.25-million before costs through the sale of new fully paid ordinary shares at A$0.059 a share. The funds raised will support several key initiatives. These include continuing the testing of gas flow rates at Project Pitse, in Botswana; expanding the company’s exploration and evaluation activities; and progressing to the next phase of a detailed study aimed at producing liquefied natural gas (LNG) for the greater Johannesburg area.
