Frontier Energy Limited (AU:FHE) has released an update.
Frontier Energy Limited successfully secured a A$40 million investment through a two-tranche placement, issuing 160 million new shares at A$0.25 each, with the first tranche netting A$16.8 million and the second contingent on shareholder approval aiming for A$23.2 million. The funds will expedite early development works, order critical items, and assist in finalizing debt financing and strategic partnerships. The company’s stock will be allocated and begin trading in early September, with further shareholder engagement planned via an upcoming Share Purchase Plan.
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