Red Sky Energy has advised its share purchase plan (SPP) has closed, with the funds raised to be applied to further develop and fast track the Killanoola oil project, South Australia.
The SPP allows existing eligible shareholders the opportunity to subscribe for Red Sky shares at the same price as offered under the recent placement.
Funds raised under the placement and SPP will be used to further expand seismic acquisition and additional drilling the wider project area at Killanoola, as well as for assessing new opportunities working capital and to meeting the costs of the placement and the SPP.
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