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Grand Gulf Energy Limited ( (AU:GGE) ) has provided an announcement.
Grand Gulf Energy has completed a $500,000 capital raising via a placement of 250,000,000 new fully paid ordinary shares at $0.002 each to sophisticated and professional investors, utilising its placement capacity under ASX Listing Rules 7.1 and 7.1A. The company confirmed the shares were issued without a prospectus under the Corporations Act disclosure exemptions, stated it is compliant with its continuous and financial reporting obligations, and indicated there is no excluded information that would be expected in a full disclosure document, providing regulatory assurance to existing and new shareholders.
The most recent analyst rating on (AU:GGE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Grand Gulf Energy Limited stock, see the AU:GGE Stock Forecast page.
More about Grand Gulf Energy Limited
Grand Gulf Energy Ltd is an Australian-listed energy company focused on oil and gas exploration and production. The company targets projects that can attract sophisticated and professional investors in the domestic capital markets, leveraging ASX listing rules to fund ongoing operations and development activities.
Technical Sentiment Signal: Hold
Current Market Cap: A$8.46M
For an in-depth examination of GGE stock, go to TipRanks’ Overview page.