Provaris Energy Ltd announced that it has received firm commitments to raise $1.9 million (before costs) via a share placement to institutional, sophisticated, and professional investors at $0.04 per share, with 47.5 million new fully paid ordinary shares to be issued (Placement).
The proceeds of the placement will provide funds for the construction and testing in Norway of a prototype tank to receive Final Class Approvals for Provaris’ proprietary H2Neo hydrogen carrier, along with development activities on existing hydrogen collaboration projects in Norway and corporate costs.
Photo of Provaris Energy
Press release https://is.gd/Oq5hGS