Altona Energy announces placing to raise £150,000
Friday, Jul 07, 2017
The Company announces it has raised £150,000 from a placing of 100,000,000 new ordinary shares of 0.1p each in the Company (the ?Placing Shares?) at an issue price of 0.15p per share through a placing with new investors.

The funds will be used for working capital purposes during the period of negotiation between the Company and Tri-Star Petroleum Company Inc. following the intervention of the South Australian Government, and, should these negotiations be unsuccessful, to then allow the Company time to consider an alternative strategy either with its existing Mineral Exploration Licences, or by acquiring new assets in a different location.

Details of the Placing  

The Placing Shares will rank pari passu with the existing ordinary shares.  An application has been made for the Placing Shares to be admitted to trading on AIM which is expected to occur on 12 July 2017 (?Admission?).

Total Voting Rights

Following Admission the Company?s enlarged issued share capital will comprise 991,956,853 ordinary shares with voting rights.  The Company has no shares held in Treasury.  This figure of 991,956,853 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the their interest in, the share capital of the Company under the FCA?s Disclosure and Transparency Rules.

About Altona

Altona is listed on the London Stock Exchange?s AIM market.  Its principal focus is on the evaluation and development of the Company?s flagship Arckaringa Project to exploit the significant coal resources contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia.  The Project is designed to produce syngas products for the Australian market and export from a resource exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant).

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