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The latest update is out from New Zealand Energy ( (TSE:NZ) ).
New Zealand Energy Corp. has launched a non-brokered private placement of up to 17.5 million common shares at C$0.20 per share, aiming to raise as much as C$3.5 million. Conducted under Canadian prospectus exemption rules and potentially offered in select jurisdictions outside Canada, the capital raise is intended primarily to advance the company’s gas storage business and for general corporate purposes, subject to regulatory approvals including from the TSX Venture Exchange, underscoring the company’s strategic focus on expanding its gas storage capabilities within its New Zealand asset base.
More about New Zealand Energy
New Zealand Energy Corp. is a publicly listed energy company focused on developing oil, gas and gas-storage opportunities in New Zealand. It holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project in the Taranaki Basin on New Zealand’s North Island, and owns a 50% stake in the Waihapa production station, enabling rapid tie-in of production and direct sales to market.
Average Trading Volume: 44,608
Technical Sentiment Signal: Sell
Current Market Cap: C$9.59M
For detailed information about NZ stock, go to TipRanks’ Stock Analysis page.