White Energy Company (ASX:WEC) raised roughly AU$3.8 million following the completion of its renounceable pro-rata entitlement offer, according to a Tuesday filing with the Australian bourse.
This is equivalent to more than 112.6 million shares, comprising 112.5 million shares taken up by eligible shareholders and 135,796 additional shares that exceeded the entitlements.
The new shares will be issued on Thursday. Trading will begin on March 28.
Proceeds are earmarked for various mineral exploration activities, among others.
White Energy's shares were up 3% in recent trade.
Price (AUD): $0.03, Change: $+0.0010, Percent Change: +3.33%
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