Triangle Energy (ASX: $TEG) Entitlement Offer Closure

Triangle Energy (Global) Limited (ASX: $TEG) has successfully closed its Non-renounceable Entitlement Offer, seeking to raise $1.5 million, which was oversubscribed. The funds will be utilized for exploration and drilling of the Company's Perth Basin assets (L7 and EP437), as well as for general working capital purposes.

Executive Commentary on Entitlement Offer

Triangle's Managing Director, Mr Conrad Todd, expressed his satisfaction with the overwhelming support from existing shareholders for the oversubscribed Entitlement Offer. He emphasized that the strong support reflects shareholders' appreciation and approval of the Company's ongoing growth and development. The capital raised will enable Triangle to explore and drill its Perth Basin assets comprising L7 and EP437 Permits.

Summary of Triangle Energy (ASX: $TEG) Announcement

Triangle Energy (Global) Limited (ASX: $TEG) has closed its Non-renounceable Entitlement Offer, raising $1.5 million, which was oversubscribed. The funds will be used for exploration and drilling of the Company's Perth Basin assets (L7 and EP437) and for general working capital purposes. The Managing Director, Mr Conrad Todd, highlighted the overwhelming support from existing shareholders, indicating their appreciation of the Company's growth and development. The issue of Securities under the Entitlement Offer and Shortfall Offer is expected to take place on Thursday, 28 March 2024. The Company aims to continue its exploration and development activities with the raised capital, reflecting its commitment to expanding its portfolio of assets.