Invictus Energy Limited announced a private placement of 60,026,165 new fully paid ordinary shares at an issue price of AUD 0.2 per share for proceeds of AUD 12,005,233 on May 23, 2022. The transaction will include participation from sophisticated and multiple new and existing institutional investors. The investors will also receive a free option on a 1-for-2 basis, at a strike price of AUD 0.35, with a one-year term. The company will also seek approval at the EGM for Non-Executive Director and Deputy Chairman Joe Mutizwa to participate in the placement on the same terms. The transaction is expected to close on May 27, 2022.