Pilot Energy Limited (AU:PGY) has released an update.
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Pilot Energy Limited has requested an extension of its voluntary suspension from trading on the ASX until February 3, 2025, or until it announces a capital raising. The company is finalizing funding arrangements, including a Convertible Note valued at $1.8 million, to support its acquisition of the Cliff Head project and its transition into a carbon storage operation. Discussions with a major capital provider are ongoing to solidify a capitalisation package for this venture.
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