Continental Focus, International Reach

Tlou Energy Raises Cash

Wednesday, April 10, 2019

Tlou Energy successfully completed an equity placement totalling approximately AUD$1.2 million. The placement comprises the issue of 12,000,000 new ordinary shares (representing 2.85% of the enlarged share capital) at an issue price of AUD$0.10 per share.

Participants in the placement have entered into Voluntary Escrow Agreements with the company not to dispose of the Placement shares held for 12 months.  In all other aspects the placement shares rank equally with Tlou’s existing shares on issue.

The proceeds of the placement, along with existing cash provides sufficient working capital for ongoing activities including continued gas flow testing at the recently completed production wells and efforts to secure a power purchase agreement.