Industry News
Strata-X Completes IPO; Eyes U.S. Shales
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The directors and management of Strata‐X Energy Ltd. has reported the completion of the its initial public offering in Australia.
An aggregate of 42,303,293 CHESS depository interests (CDIs) were sold, at a price of AUD$0.30 per CDI, generating aggregate gross proceeds of AUD$12,690,987.
Each CDI is equivalent to and exchangeable for one common share in the capital of Strata‐X.
Bizzell Capital Partners Limited were the Corporate Advisors to the Offering and BBY Limited and Helmsec Global Capital Ltd. were the joint lead managers.
Upon closing, the Agents received an aggregate commission AUD$761,459.27, a management fee of AUD$126,909.88 as well as an aggregate of 1,265,383 brokers warrants exercisable at a price of A$0.36 per CDI until February 20, 2016. The Advisors received a success…
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