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Botala Energy Ltd (ASX:BTE)

ALERT: Price-sensitive ASX Announcement for BTE
Current share price for BTE : $0.045 -0.025 (-35.71%)+
Announcement
Release
18 Aug 2025 9:01AM
Price at Release
$0.070
Full Release
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Summary
Botala Energy Ltd (BTE) has announced a successful placement to raise approximately $3.3 million before costs, aimed at advancing its Serowe Coal Bed Methane (CBM) Project in Botswana. The placement will issue new shares at $0.13 each, allowing the company to fund continued drilling, project development, and working capital. Managed by Evolution Capital Pty Ltd, the placement has received strong support from investors. The company is focused on progressing its flagship Serowe CBM Project, with funds directed toward drilling and exploration efforts. Details regarding the placement and capital structure are provided in the announcement appendix.
Key Points
  • Botala Energy Ltd (BTE) has announced a placement to raise approximately $3.3 million before costs.
  • The placement is intended to fund the advancement of the Serowe Coal Bed Methane (CBM) Project located in Botswana.
  • The placement will be conducted at an issue price of $0.13 per share, representing a 13.3% discount to the last closing price and a 17.6% discount to the 5-day volume weighted average price.
  • The funds raised will be used for drilling activities, project development, and working capital requirements.
  • A total of 25,384,615 new fully paid ordinary shares will be issued to sophisticated and institutional investors.
  • The placement is being managed by Evolution Capital Pty Ltd as lead manager.
  • The company aims to progress its flagship Serowe CBM Project, with continued drilling and exploration planned.
  • Botala Energy commends the support received from both existing and new shareholders through this placement.
  • The announcement includes an appendix with additional details about the placement and capital structure post-issue.
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.