Regal Resources (ASX: RER) will place up to 55,560,000 ordinary fully paid shares to clients of Melbourne Capital Limited at an issue price of 4.5 cents ($0.045) per share, raising A$2,500,200 before associated costs.
The shares will be issued pursuant to Chapter 7 of ASX Listing Rules (15% Rule) for the purposes of developing and commercialising the company’s Underground Coal To Liquids (UCTL™), Surface Coal To Liquids (SCTL) and W10 technologies and such processes.
Furthermore, Regal intends to undertake a Share Purchase Plan (SPP) for up to 23 million fully paid ordinary shares at an issue of 4.5 cents ($0.045) per share, raising up to $1,035,000 before associated costs.
http://www.proactiveinvestors.com.au/companies/news/6440/regal-resources-to-raise-a25m-for-coal-to-liquids-development-6440.html
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