News

Green Rock Energy raising US$930,000 in placement

City of Perth, Australia
Alexander Richter 30 Apr 2010

Australian Green Rock Energy raises AU$1,094,500 (US$930,000) through the recent Share Purchase Plan offered to shareholders.

In a release by the company, “Green Rock Energy announces that it has raised AU$1,094,500 (US$930,000) through the recent Share Purchase Plan offered to shareholders and that the 36,483,261 fully paid ordinary shares resulting from the plan will be allotted on Friday 30 April 2010.

This represents 59% of the maximum number of shares allowed to be issued under the regulations governing Share Purchase Plans and far exceeds the expectation of the Company given current market uncertainties.

As was previously announced, the funds raised through this plan will be applied to support the ongoing exploration and development of Green Rock Energy’s projects in particular the project to demonstrate commercial production of geothermal energy for direct use at the University of Western Australia.

The amount raised through the Share Purchase Plan is additional to the $560,000 raised through a placement announced on 14 April 2010.

The Directors sincerely appreciate the continuing support by shareholders of Green Rock Energy.”

Source:  company release via e-mail