Geo Energy Completes $5 Million Treasury Share Sale, Warrants Issue

MT Newswires

2024-12-30

Geo Energy Resources (SGX:RE4) sold 13.4 million treasury shares at SG$0.5 each, raising $5 million, and issued 20.1 million warrants with an exercise price of SG$1 per share, according to a Friday filing on the Singapore Exchange.

The sale price reflects a premium of SG$0.195 over the Dec. 27 closing price of SG$0.305.

The issuances of the treasury shares and warrants relate to the second tranche of investment in the company by Swiss-based private commodities investor Resource Invest, which now holds a 6.8% stake in Geo Energy.

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