Petroleum Africa
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Wednesday, June 26, 2013
Rialto Energy, inline with a previous statement, announced that 471,555,109 new ordinary shares in the company have been placed with institutional and other investors to raise A$14.1 million (approx. £8.5 million). GMP Securities Europe and Euroz Securities acted as joint bookrunners for the Placing.
Rob Shepherd, MD of Rialto commented: “We are extremely pleased to have received such support for the Placing in what is clearly a very challenging market, particularly given the difficult recent history that Rialto and its shareholders have endured. I would hereby like to thank the investors that have committed to the Placing and of course all of our advisors who have helped to make it happen. Once the new funds are received, the team will be able to focus wholly on completing negotiations with the Government of Cote d’Ivoire in respect of amending the current license conditions, closing the previously announced transaction with Vitol, progressing the Gazelle gas development and moving forward with exploration on Block CI-202.”
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