IVZ looking to raise $10M through a Share Purchase Plan (SPP)

Our 2020 Energy Pick of the Year, Invictus Energy (ASX: IVZ), is looking to raise another $10M from existing shareholders.

The deal is being offered at 12c per IVZ share.

The raise is being done via a Share Purchase Plan, this means existing shareholders will all be entitled to apply for $30,000 in IVZ shares at a share price of 12c per share up to a collective total of $10M.

For every two IVZ shares purchased under the offer, shareholders will also receive one free option, exercisable at 20c per share with a 3-year expiry.

We intend to apply for our full allocation in the Share Purchase Plan:

The key timetable for the offer is as follows:

• Closing Date and results of offer (25 May 2023) - the due date to apply for the SPP shares and the date at which we should know how much was raised.
  
• Listing of new shares (1 June 2023) - when the shares from the SPP are to be listed.

What’s next for IVZ:

1) Preparation for drilling Mukuyu-2 in Q3 this year.

2) 2D Seismic programs in May - IVZ plans to run some new seismic data acquisition programs across the eastern part of its permits.