The company revealed on Monday it had raised A$6.8 million (US$6.1 million) through the placement of 94.75 million new shares priced at A$0.072 per share.
Oilex said the offer price representeda 3% discount to the 30-day volume weighted average price of itsshares and was supported by new and existing shareholders anddirectors, adding the offer was over subscribed in Australia.
“We are very pleased with the strongsupport shown for the Placement and delighted to welcome the newinvestors including a number of Australian based institutions,”Oilex managing director Ron Miller said.
Oilex
