Tony Gilby, Managing Director of Tlou Energy Limited, caught up with Proactive London’s Andrew Scott following their AU$1.2m premium priced placing.
Gilby says it’s been welcome to see the confidence shown in the company by the two existing shareholders who took part in the raise.
He adds the additional capital removes perceived near-term financial pressure from the company. The subscribing shareholders agreed to a voluntary 12-month escrow of the new shares, meaning they can’t be sold in the first year following the placing.
Meanwhile, Tony adds that they’re continuing discussions with Botswana based entities to fund expanded field operations and the first stage of above ground power generation infrastructure.