Enerji Ltd announced that it expects to receive AUD 0.82 million in funding.
On October 30, 2012, the company closed the first tranche of the transaction. The company issued 74,050,000 ordinary shares and 37,025,000 options for gross proceeds of AUD 592,400. The options will be exercisable at AUD 0.03 per share for a period expiring on June 30, 2015.
On November 2, 2012, the company closed the second tranche of the transaction. The company issued 6,375,000 ordinary shares and 3,187,500 options for gross proceeds of AUD 51,000. The options issued in this tranche will also expire on June 30, 2015.