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News

Singapore

2024/05/27

Unity Successfully Raises A$1.8m for Cambodian Exploration & Planned IPO

Unity Energy & Resources (Unity or the Company) would like to advise shareholders that it has completed its Pre-IPO capital raising. With strong demand, the minimum raise amount of A$1.2m that had been sought was quickly exceeded and the Company has elected to take A$0.6m in oversubscriptions for a total raise amount of A$1.8m. Unity will issue approximately 18,000,000 million new fully paid ordinary shares in the Company (“New Shares”).


The fund raise was priced at A$0.10 per New Share and Canaccord Genuity (Australia) Limited (Canaccord) and Bacchus Capital Advisers Limited (Bacchus) of London acted as Joint Lead Managers and Bookrunners.


The proceeds of the fund raise will allow Unity to continue exploration on its Ngot and O’Phlay exploration licences in Cambodia, to finalise the grant of the Ta Vaeng exploration licence in Cambodia, review other project opportunities, fund IPO preparations and provide general working capital.


The offer was only for existing shareholders and institutional, professional, and experienced investors in Australia, to certain institutional and professional investors in in New Zealand, Hong Kong, Singapore, Cambodia, Thailand and the United Kingdom. It was not for distribution in the United States.

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