(AEWEC) White Energy Proceeds With Share Purchase Plan

28 May 2009

Article Details
Source: American Chronicle
URL: http://www.americanchronicle.com

Summary

Sydney - Thursday - May 28: (RWE Australian Business News) - White Energy Company Ltd (ASX:WEC) today announced details of its share purchase plan, which will allow shareholders registered 7pm AEST May 29 to subscribe for an additional $4999.50 worth of shares at $1.50 each.

Funds raised from the plan, in conjunction with the capital raising placement announced on May 21, will be used to provide the necessary funding to underpin WEC's business development initiatives, particularly in the North American market with respect to the planned development at the Buckskin and Peabody plants in the Powder River Basin, and for general working capital needs.

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