Renergen has successfully completed the placement of 4.3mm shares at R24.64/sh or A$2.14/sh (a 10% discount to the VWAP) to raise R107.6 million (~US$6.3mm). The proceeds will be used for working capital, additional costs relating to the studies required for the further development of Phase 2 of the Virginia Gas Project and costs associated with the turning on of the Phase 1 liquid helium plant.
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