Share Purchase Plan Completed with A$5.3m Raised
Perth, Mar 16, 2012 AEST (ABN Newswire) - The Board of Toro Energy Limited (
ASX:TOE) would like to thank shareholders who participated in the recent Share Purchase Plan ("SPP") which closed on 6 March 2012.
The SPP has raised $5.3 Million at $0.08 per share. The Board has determined that no scaleback will be applied to acceptances. The allotment of the SPP shares will occur today, Friday 16 March 2012.
This will bring Toro's cash position to an estimated $16.3m as at end March.
Funds will be applied to drilling and project advancement in relation to the Theseus Project, drilling and resource development at the Wiluna Project and the ongoing working capital requirements of the Company.
The Board is strongly encouraged by the ongoing support of its shareholders during what will be a significant year for the Company.
Contact
Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au
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