Nexera Energy Closes $600,000 Private Placement to Expand Oil Services

Nexera Energy ( (TSE:NGY) ) has shared an announcement.

Nexera Energy Inc. has successfully closed a non-brokered private placement, issuing 24,000,000 units at $0.025 per unit, raising $600,000. The proceeds will be used by its subsidiary, Production Resources Inc., to expand its oil and gas services, specifically in cement services and well servicing operations, which is expected to generate additional revenue by servicing both Nexera’s wells and other operators’ wells in the area.

More about Nexera Energy

Nexera Energy Inc. is an energy company with oil-producing properties in Southwest Texas. It owns and operates the Lavernia, Wooden Horse, and Stockdale Horizon Projects, and fully owns Production Resources Inc., a South Texas oil company.

YTD Price Performance: -50.0%

Average Trading Volume: 38,162

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: C$1.06M

For an in-depth examination of NGY stock, go to TipRanks’ Stock Analysis page.