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New Zealand Energy ( (TSE:NZ) ) has shared an update.
New Zealand Energy Corp. has announced a non-brokered private placement aiming to raise up to C$3,000,000 through the sale of common shares. The proceeds will be used for the Tariki gas storage project, settling an outstanding loan with Vliet Financing B.V., and general working capital. The transaction is considered a related party transaction due to the involvement of Frank Jacobs, the company’s chairman. Additionally, Toby Pierce has been appointed as a new director, bringing extensive experience in the resource sector, which could enhance the company’s strategic direction.
More about New Zealand Energy
New Zealand Energy Corp. is a company involved in the energy sector, focusing on oil and gas production. The company operates primarily in New Zealand and is listed on the TSX Venture Exchange.
Average Trading Volume: 18,786
Technical Sentiment Signal: Sell
Current Market Cap: C$4.53M
See more insights into NZ stock on TipRanks’ Stock Analysis page.