Energy News as sensible and well structured.">

AUSTRALIA

WHL defends Magna funding deal

WHL Energy has completed a funding deal with a US-based fund that Bloomberg Businessweek called a "a pawnshop for penny stocks" and one best known for value-destroying "death spiral" financing of penny dreadfuls, but WHL managing director David Rowbottam defended the financing option to <i>Energy News</i> as sensible and well structured.

WHL defends Magna funding deal

Rowbottam said WHL needed the $US4 million ($A4.5 million) being offered from New York-headquartered investment firm Magna Equities, so it has the flexibility to review new opportunities, primarily a near-term...

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