Jade Gas Holdings: Raises $10.7 million via strategic placement

Jade Gas Holdings Raises $10.7 million via strategic placement

• Jade Gas (JGH) launches a strategic share placement to raise $10.7 million
• JGH executed a subscription agreement with UB Metal (UBM) for the funds, with shares priced at six cents — a 27.7 per cent premium to its last closing price
• UBM is Mongolia’s largest importer of natural gas and will become a 19.9 per cent shareholder in Jade as a result of the placement
• Jade says the funds will primarily go towards its pilot production program, which is designed to prove the commercial capability of the TTCBM project in Mongolia
• Jade GasHoldings is up 6.38 per cent, trading at 5 cents at 12:51 pm