Australian energy company WHL Energy Limited (ASX:WHN) (“WHL Energy” or “the Company”) is pleased to announce that it has entered into a Controlled Placement Agreement (“CPA”) with Acuity Capital Pty Ltd (“Acuity Capital”).
The CPA provides WHL Energy with up to $5 million of standby equity capital over the coming 12 months. Importantly, WHL Energy retains full control of the placement process, including having sole discretion as to whether or not to utilise the CPA. Further, there are no restrictions or conditions on other capital raising activities the Company may wish to undertake.
The Company has entered into the CPA to complement its funding initiatives and to strengthen its overall capital management program by adding a further capital raising tool. The CPA provides WHL Energy with the flexibility to quickly and efficiently raise capital, including the ability to take advantage of suitably attractive opportunities if they arise.
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