INTERRA RESOURCES LIMITED
Company Registration No. 197300166Z
SGX ANNOUNCEMENT
Trading Code: 5GI
26 October 2020
USE OF PROCEEDS FROM THE PLACEMENT COMPLETED ON 9 JUNE 2020
Unless otherwise defined, capitalised terms used herein shall bear the same meaning ascribed to them in the announcements dated 20 April 2020, 1 June 2020 and 9 June 2020 in relation to the Placement (the "Announcements").
Further to the announcements dated 23 July 2020, 20 August 2020 and 22 September 2020 in relation to the use of proceeds from the Placement, the Board of Directors wishes to provide an update on the utilisation of the Net Proceeds of approximately S$2,797,500 (approximately US$2,012,885 based on the exchange rate of US$1:S$1.3898) (subject to finalisation of related expenses) as follows:
Purpose | Amount utilised |
(US$) | |
Payment for work activities relating to the work programme of the Chauk | 434,400 |
and Yenangyaung fields in Myanmar for the year 2020 | |
Total | 434,400 |
The above utilisation is in line with the intended uses of the Net Proceeds stated in the Announcements. Subsequent to the aforementioned, the remaining balance of the Net Proceeds amounts to approximately US$172,685.
The Company will provide updates on the use of the remaining Net Proceeds as and when such proceeds are materially disbursed.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
About Interra
Interra Resources Limited, a Singapore-incorporated company listed on SGX Mainboard, is engaged in the business of petroleum exploration and production (E&P). Our E&P activities include petroleum production, field development and exploration. We are positioning ourselves to become a leading regional independent producer of petroleum.
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com
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Interra Resources Limited published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 09:59:00 UTC