$FORG.L

Forgent Completes Equity Raise to Fund Majority Stake Purchase in Peak Hills Project

Forgent (FORG.L) said Tuesday it conditionally raised 1.3 million pounds sterling through a placement of 8,666,666,667 new shares at 0.00015 pound apiece.The energy transition company will use the net proceeds to finance the purchase of a 51% interest in the Peak Hills gold-copper exploration project in Australia, evaluation and due diligence for other assets under negotiation, fund expenses related to gasification business, as well as for general working capital.The placement is subject to approval at the company's upcoming extraordinary general meeting.