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Successful Capital Raise
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
A2X Share code: REN
ISIN: ZAE000202610
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
(“Renergen” or “the Company”)
SUCCESSFUL CAPITAL RAISE
Emerging domestic natural gas and helium producer Renergen is pleased to announce the
successful placement of 5,600,000 CDIs at A$1.20 per security, raising a total of A$6,720,000
(the “Placement”), representing a 4.7% discount to 30 day VWAP.
The placement was well supported by several Australian/NZ and Offshore investors.
The Placement was made in part to replenish the cash used to acquire the remaining stake in
Tetra4 Proprietary Limited, making Renergen the sole holder of the Virginia Gas Project. The
balance of the proceeds raised will be used to further explore the gas discovery made in
December 2019 while drilling in the sandstone, which included 12% helium levels.
“With construction of Phase I well underway and on schedule, we are well placed to commence
production of 2,700 GJ of LNG and 350 kg of helium per day by mid-2021. We have maintained
for a while now that the sandstone deposit had potential, and last month’s discovery certainly
enhances this view with the level of gas flow and helium concentrations achieved. Given the
findings have been better than expected, we are now reviewing the data and planning how to
maximise the flow potential of this area of the production right, as this will inform the magnitude
and timing of Phase II. It remains the Company’s ambition to become a globally significant
producer of liquid helium, and the successful capital raise today allows us the extra flexibility to
ensure that we consider all possible angles,” said CEO Stefano Marani.
Johannesburg
21 January 2020
Designated Advisor
PSG Capital
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko, 0466 984 953
Tom Kohlen, 0419 953 526.
To readers reviewing this announcement on the Stock Exchange News Service (SENS), this
announcement may contain graphics and/or images which can be found in the PDF version
posted on the Company’s website.
www.renergen.co.za
Date: 21-01-2020 11:50:00
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