Share Purchase Plan Oversubscribed
Perth, Nov 10, 2014 AEST (ABN Newswire) - ADX Energy Ltd (
ASX:ADX) (ADXRF:OTCMKTS) is pleased to announce that the Share Purchase Plan offer to eligible shareholders announced on 14 October 2014 to raise a maximum of A$ 250,000 was over-subscribed by approximately 40%.
The Share Purchase Plan which was priced at A$0.009 per share, closed on 5 November 2014.
The Board of ADX welcomes the support from the Company's shareholders.
ADX will utilise the proceeds of the Share Purchase Plan, together with the recent placement, to fund its exploration projects in Tunisia and Romania as well as working capital.
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
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