Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/americans_offshore/latin_america_offshore/meo-raised-14-million-to-fund-cuban-exploration.shtmlMEO Australia to raise $1.4 million to fund Cuban exploration
MEO Australia Limited has executed a Private Placement Agreement with London listed Leni Gas Cuba Limited to raise $1.4 million, with funds to be used to advance MEO’s exploration
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MEO Australia Limited has executed a Private Placement Agreement with London listed Leni Gas Cuba Limited to raise $1.4 million, with funds to be used to advance MEO’s exploration program on the Company’s newly awarded 2,380km2 onshore oil block, Block 9 in Cuba.
Under the placement agreement, MEO will issue Leni Gas Cuba 140,716,573 shares at an issue price of A$0.01 per share. The placement of shares to Leni Gas Cuba falls within MEO’s placement capacity and will make Leni Gas Cuba MEO’s single largest shareholder with a 15.8% interest in the Company.
