Galilee Energy Issues Additional Shares Under Placement, Confirms Regulatory Compliance

An announcement from Galilee Energy Limited ( (AU:GLL) ) is now available.

Galilee Energy Limited has issued a further 5 million fully paid ordinary shares under the second tranche of a previously announced placement, and has confirmed the issuance was conducted without a disclosure document under the Corporations Act. The company also affirmed its compliance with ongoing reporting and financial requirements under Australian corporate law and stated there is no undisclosed price-sensitive information, providing regulatory clarity and assurance to investors regarding the new capital raising.

The most recent analyst rating on (AU:GLL) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Galilee Energy Limited stock, see the AU:GLL Stock Forecast page.

More about Galilee Energy Limited

Galilee Energy Limited is an oil and gas company aiming to become a mid-tier US producer through the development of its Zydeco Gas Project in Louisiana. In Australia, it owns 100% of one of the largest uncontracted natural gas resources on the east coast, the Glenaras Gas Project in Queensland’s Galilee Basin, positioning the company as a potential key supplier to regional gas markets.

Average Trading Volume: 1,784,710

Technical Sentiment Signal: Sell

Current Market Cap: A$11.74M

Find detailed analytics on GLL stock on TipRanks’ Stock Analysis page.