Genex Power Limited (ASX:GNX, Genex or Company) is pleased to announce the successful completion of a Share Placement (Placement) of 45,067,187 new Fully Paid Ordinary Shares (Shares) to both existing and new sophisticated and institutional shareholders to advance the Company’s 50MW first phase of Genex’s Kidston Solar Project (Project) in North Queensland.
The Placement was significantly oversubscribed and closed early as a result.
The shares under the Placement will be issued at a price of $0.22 per Share, with Canaccord Genuity (Australia) Limited and Morgans Corporate Limited acting as Joint Lead Managers to the Placement.
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