Red Sky Energy Limited (ASX:ROG) has completed an oversubscribed placement to raise $342,000 before costs with firm commitments for 190 million new fully paid ordinary shares at an issue price of 0.18 cents per share.
The placement is being made with existing sophisticated investors within the company’s existing placement capacity under ASX listing rules 7.1 and 7.1a.
The funds will be allocated towards the company’s existing projects as well as working capital.
Current assets at Red Sky include working interest in the Gold Nugget Gas Project in Wyoming, USA.
The company is also seeking to acquire near field development assets onshore and offshore Australasia and South East Asia.