ZIMBABWE: Invictus SPP total Increased to $3.0m

Invictus Energy has provided an update on the capital raising activities to assist with the funding of its 80% owned and operated Cabora Bassa Project in Zimbabwe.

Securities Purchase Plan (SPP) $2m target reached on 10 January 2022 Invictus launched its SPP by lodgement with the ASX and ASIC of its SPP prospectus to raise up to $2m, with the SPP being open to all eligible shareholders per the record date of 24 December 2021.

“Given the demand of the SPP on the opening day and having reached the SPP target of $2m, the board has exercised its right under the SPP prospectus to accept oversubscriptions of a further $1m and to increase the SPP total from $2m to $3m”.

The Company is advancing the current exploration program with the acquisition of infill seismic data for a planned 1H 2022 basin opening drilling campaign.