Vintage Energy: Secures commitments for $8.5m to fund exploration

Vintage Energy Secures commitments for $8.5m to fund exploration

• Vintage Energy (VEN) has received firm commitments for $8.5M via a share placement to fund its exploration and appraisal activities
• The company is seeking to raise up to $10.5M through a placement and share purchase plan through sophisticated and professional investors
• The single tranche placement comprises 100M shares at an issue price of 8.5 cents each, whilst the SPP will raise up to $2M at the same issue price
• Funds received will be used to address the Odin-1 completion and tie in to the Vali-Bow/Beckler pipeline
• VintageEnergy shares are in the red, down 8.2 per cent trading at 9 cents