- ADX Energy (ADX) is aiming to raise $2.3 million to boost funding for its key projects
- The company will raise the money through placement and share purchase plan (SPP)
- Under the placement, the company is offering shares at 0.6 cents each to sophisticated investors to raise $1.3 million
- Additionally, ADX will issue one placement option for every two placement shares
- Beyond that, the SPP will take place on the same terms as the placement and allow eligible shareholders to purchase up to $30,000 in shares
- On the market this afternoon, ADX is down 14.3 percent and is trading at 0.6 cents per share
