AUSTRALIA

Samson strengthens cash reserves

SAMSON Oil & Gas has placed 65 million ordinary shares and 11.25 million American depository shares to Australian and US investors in a bid to raise gross proceeds of $A5.8 million.

Andrew Snelling

The placement was completed at 2c per share and 37.5c per ADS and includes options to purchase an additional three shares for every 10 shares subscribed for, at an exercise price of 3.3c. The company...

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