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Australian Oil Company Limited (ASX:AOK)

ALERT: Price-sensitive ASX Announcement for AOK
Current share price for AOK : $0.002 -0.001 (-33.33%)+
Announcement
Release
23 Oct 2025 7:46PM
Price at Release
$0.003
Full Release
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Summary
Australian Oil Company Limited (AOK) announced a capital raising of $800,000 to advance its operations. The funds will be used to enhance the company's operations in California, optimize production, and assess new opportunities. This capital raising is structured in two tranches, with the first tranche raising $400,986 through the issuance of shares at $0.0021 each, and the second tranche raising $399,014 through shares issued at $0.0013 each, both subject to shareholder approval and offered to sophisticated investors. Participants will also receive options with a two-year expiry. The process has been managed by Sanlam Private Wealth Pty Ltd, which will receive a fee for its role. The announcement reflects strong support from institutional investors, showcasing confidence in AOK's strategic direction.
Key Points
  • Two-tranche capital raising to raise $800,000
  • Tranche 1: $400,986 through 190,945,748 shares at $0.0021 each
  • Tranche 2: $399,014 through 306,933,792 shares at $0.0013 each
  • Options issued for every two shares subscribed, exercisable at $0.004 for two years
  • Funds to be used for Californian operations, production optimization, and new ventures
  • Sanlam Private Wealth Pty Ltd acted as Lead Manager
  • Strong support from sophisticated and institutional investors
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.