Mission NewEnergy Limited (ASX:MBT)
Perth, June 17, 2009 AEST (ABN Newswire) - Mission NewEnergy Limited (ASX:MBT)(PINK:MIBFF) has placed a further 75,862,069 Units pursuant to its private placement announced on 28th April 2009, raising an additional US$11M. This, coupled with the successful placement of 24,137,931 Units announced on 28th April 2009, brings the total share issue to 100,000,000 Units, raising US$14.5M. This amount does not include any additional capital that may be raised on exercise of warrants.
Each Unit, priced at US$0.145, comprises one ordinary share and one Warrant exercisable for one ordinary share of Mission. Each Warrant will allow the holder to subscribe for one ordinary share at a price of A$0.30. The Warrants have a 5-year life, although the company may terminate any unexercised Warrants on 15 days' notice, anytime after 15 April 2012, if the 20-day VWAP is over A$1.00.
Upon exercise of all the Warrants, Mission would receive a further A$30M taking the total gross proceeds of the placement to ~A$50M.
Coupled with the placement of 85,000,000 Units to Ir Lee See Eng announced on the 16th of June 2009 (subject to shareholder approval for this latest placement), Mission will have raised a total of US$26.825M under this round of equity raising.
About Mission NewEnergy Limited
Mission NewEnergy Ltd (ASX:MBT) (OTCMKTS:MNELF) is an Australian Securities Exchange ("ASX") listed company.
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