Tlou Energy Ltd. said Friday that it has raised 2 million Australian Dollars ($1.3 million) via a share placing, and will use the money to develop its Lesedi power project in Botswana.
The London, Australian and Botswana-listed energy company has issued 57.1 million new ordinary shares at 2 pence each, a 48% premium to its closing price of 1.35 pence on Thursday. The shares have been issued to a new strategic investor in Australia, via an entity controlled by Dr. Ian Campbell.
“Dr. Campbell has indicated to the company that he will work with us to secure an additional funding package that is designed to fast-track the goal of achieving 10 megawatts of power generation as early as possible,” Chief Executive Anthony Gilby said.
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