Peninsula Energy: To pay off debt with $40.3M capital raise

Peninsula Energy: To pay off debt with $40.3M capital raise

• Peninsula Energy will launch a fully underwritten entitlement offer to raise $40.3 million and will entirely pay off its debt
• The entitlement offer will also allow shareholders to purchase nine new shares for every five already held for a price of 7.1 cents per share
• Following debt repayment, Peninsula will no longer pursue partial monetisation for its uranium sales contract book
• Then the company estimates the debt repayment will save it approximately $2.9 million in interest payments per annum
• Peninsula Managing Director and CEO Wayne Heili said the capital raising will position the company to capitalise on improving market conditions for uranium
• Peninsula’s share price closed 30.8 per cent in the red to trade for 9 cents each