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New Zealand Energy ( (TSE:NZ) ) has issued an update.
New Zealand Energy Corp. has successfully closed a non-brokered private placement, issuing over 15 million common shares to raise approximately $2.7 million. The funds will be used for the Tariki gas storage project and to settle outstanding debts, including terminating a significant loan with Vliet Financing B.V. This transaction also involved related party transactions, with key stakeholders such as Charlestown Energy Partners and Vliet Financing increasing their shareholdings in the company. These moves are expected to strengthen NZEC’s financial position and support its ongoing projects.
More about New Zealand Energy
New Zealand Energy Corp. operates in the energy sector, focusing on the development and management of energy resources. The company is involved in projects such as the Tariki gas storage project and is based in New Plymouth, New Zealand.
Average Trading Volume: 41,964
Technical Sentiment Signal: Sell
Current Market Cap: C$4.12M
Learn more about NZ stock on TipRanks’ Stock Analysis page.