Provaris Energy Ltd (AU:PV1) has released an update.
Provaris Energy Ltd has entered a partially secured $3 million Convertible Bond Facility with Macquarie Bank, offering immediate cash reserves and future funding for its hydrogen development plans. The company is set to issue $500,000 worth of bonds and 4 million call options to Macquarie, with $200,000 immediately available for use. Additionally, Provaris has launched a Share Purchase Plan to raise up to $2 million, underwritten by shareholders for $1 million, offering bonus options to participating shareholders.
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