Georgina Energy (GEX) has raised about £1 million through a placing of new shares, with proceeds to fund ongoing work programmes and general working capital.
The company issued 37,037,000 new ordinary shares at 2.7 pence per share, with the placing undertaken by Clear Capital. As part of the fundraise, investors will receive one warrant for every two placing shares, exercisable at 5 pence and expiring five years from admission.
Clear Capital will receive 2,222,220 broker warrants, exercisable at 2.7 pence and also expiring five years from admission.
Importantly, the proceeds will support pre-drill activities as the company advances its operational plans.
Last month, Georgina awarded a letter of intent to Ensign Australia for its planned drilling programme at the Hussar prospect in EP513.
Admission of the new shares to trading on the London Stock Exchange is expected at 8.00 a.m. on 6 May 2026.
View from Vox
This fundraise provides Georgina Energy with near-term funding to progress its work programmes while maintaining operational momentum.