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White Energy Company Limited (ASX:WEC)
ALERT: Price-sensitive ASX Announcement for WEC
Current share price for WEC : $0.210 0.035 (20%)+
Announcement
Release
23 Jun 2026 5:18PM
Price at Release
$0.175
Full Release
Summary
On 23 June 2026, White Energy Company Limited announced an unsecured loan agreement with Ilwella Pty Ltd, a significant shareholder and private company of the Company's Chairman, Brian Flannery. The loan facility allows White Energy to draw up to $1 million to support due diligence costs for planned acquisitions and general working capital needs before completing a capital raising effort. Key terms of the loan include it being unsecured, with an interest rate of 0.8% per month, increasing to 1.2% if payments are late. The loan is repayable on demand or upon capital raising proceeds. The announcement was authorized by Greg Sheahan, CEO.
Key Points
- White Energy Company Limited secures a loan facility up to $1 million.
- Loan provided by Ilwella Pty Ltd, associated with the Company's Chairman.
- Funds to be used for due diligence on acquisitions and general working capital.
- Loan is unsecured and not convertible into company securities.
- Interest rate is 0.8% per month, rising to 1.2% if late.
- Loan to be repaid on demand or upon capital raising proceeds.
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.
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