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Neon Energy Raises $30 Million Of Capital

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September 14, 2012

Neon Energy has received binding commitments from institutional and sophisticated investors for a private placement of new ordinary shares at an issue price of $0.30 per share; thereby raising approx. $30 million.

The placement is priced at an 11.8% discount to the company's last closing price of $0.34 per share. The proceeds will be used to fund oil and gas production, appraisal, exploration and strategic initiatives in Calif. and Southeast Asia.

The capital raising initially targeted a placement of $20 million under the company's 15% capacity pursuant to ASX Listing ...

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