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Provaris Energy Ltd (ASX:PV1)

ALERT: Price-sensitive ASX Announcement for PV1
Current share price for PV1 : $0.007 -0.002 (-22.22%)+
Announcement
Release
22 Jun 2026 9:47AM
Price at Release
$0.009
Full Release
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Summary
Provaris Energy Ltd has successfully completed a $1 million capital raising to support its 2026 development program. The funds will be used to achieve core technical milestones in Provaris' hydrogen and liquid CO2 development projects, including work at the Robotic Innovation Centre in Norway and the LCO2 tank development program with partner Yinson. The capital raising involved the issuance of approximately 130 million new fully paid ordinary shares at a price of $0.0077 each. Shareholders will also receive one free-attaching option for every three shares purchased, exercisable at $0.013 with a three-year expiry. The placement was supported by the Provaris Board, pending shareholder approval in August 2026. The new shares will be issued under the company's current ASX Listing Rules placement capacities and are expected to settle on June 25, 2026. GBA Capital served as the sole lead manager for the placement.
Key Points
  • $1 million raised to support 2026 development program.
  • Funds directed towards hydrogen and LCO2 projects.
  • Approximately 130 million new shares issued at $0.0077 each.
  • Free-attaching options provided with share purchase.
  • Director participation pending shareholder approval.
  • Settlement of shares scheduled for June 25, 2026.
  • GBA Capital acted as sole lead manager.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.