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ADX Energy heads to market

ADX Energy heads to market

Energy explorer ADX Energy (ASX:ADX) is heading to market with a capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The company's near-term activity will be focused in the Sicily Channel, both offshore Tunisia and Italy, and Romania.

The strategy is to acquire material permit interests of 50+% which provides monetisation leverage, and fund drilling via farm‐outs but retain significant interests which provides material upside to drilling success.

ADX holds a 19.4% interest in Riedel Resources (ASX:RIE)

The halt will remain in place until the opening of trade on Tuesday 14th October 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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ADX Energy Ltd Timeline

Newswire
November 08 2016
Newswire
April 28 2016
Newswire
October 10 2014

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