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Additional Information

Market:	ASX
Sector:	Alternative Energy
EPIC:	GER
Latest Price:	0.05 (0.00%)
52-week High:	0.15
52-week Low:	0.05
Market Cap:	5.62M

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Greenearth Energy Full Greenearth Energy profile here

Greenearth Energy (ASX: GER) is a diversified Australian renewable energy company that has interests in conventional geothermal resources in Australia, Indonesia and the wider Pacific Rim.

The company also has technology opportunities and project applications in the waste heat recovery, energy efficiency, combined heat and power solar, and CO2 to fuel conversion markets.

Greenearth Energy raises A$1.2 million on completion of rights issue

Thursday, November 10, 2011 by Jeff Coote

Greenearth Energy (ASX: GER) has completed its non-renounceable one for two rights issue after receiving applications and commitments of up to A$1.2 million.

Funds will be used for a number of projects including the Zenith solar technology demonstration site in Melbourne that was recently given approval.

A total of $983,070 funds have been received, with the company awaiting a further commitment of $241,001. An allocation of 12,288,381 shares and 12,288,381 unlisted incentive options will be issued to eligible shareholders.

Up to 3,012,512 shares and 3,012,512 unlisted incentive options will be issued upon receipt of funds. Company directors will attempt to place a shortfall of 29,739,993 shares during the next 3 months.

Greenearth is progressing its projects on many fronts. Yesterday the company announced it was awarded a services contract with Australia's largest gold producer Newcrest Mining (ASX:NCM), aimed at maximising the electrical output from its geothermal operations on Lihir Island.

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