Strategic Energy Resources: Raising more than $545k for exploration
- Strategic Energy Resources has received firm commitments to raise an extra $545,500 through a share placement
- Subject to shareholder approval, a total of 160,441,177 fully paid ordinary shares will be issued at a price of 34 cents per share
- Of these shares, 36,764,706 will be issued to Datt Capital, while the remaining will go to sophisticated and professional investors
- Of these shares 58 per cent, 147,058,823, were issued to Datt Capital
- SER will use this money for drilling at its Saxby and Billa Kalina projects, as well as general working capital
- SER is steady on the market today and shares are trading for 0.5 cents each just before market close
