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Strike Energy Announces $6.7 Million Placement Completed

Strike Energy Limited (ASX:STX) (“Company” or “Strike”) is pleased to announce the successful completion of a $6.7 million capital raising by way of a private placement (“Placement”) to sophisticated and professional investors, including Directors (or entities associated with Directors) of the Company.
 
PLACEMENT DETAILS
 
The Placement consists of 67 million fully paid new ordinary shares to be issued at $0.10 per share to raise $6.7 million (before issue costs). The Placement price of $0.10 per share is a 13% discount to Strike's closing price on the ASX on 1 April 2016 and an 18.4 % discount to the 10- day VWAP.
 
The proceeds from the Placement will be used to accelerate the production testing and pre-development of the Company’s Southern Cooper Basin Gas Project.
 
 
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