ARMOUR Energy has raised A$55 million through a new issue of secured notes and will use proceeds to redeem existing convertible notes, including those held by major shareholder M.H. Carnegie & Co.
Armour has raised $55m to pay down convertible notes
The remainder of the funds will be used for working capital and field program expenditure. In early January Armour received a redemption notice from M.H. Carnegie & Co for 125.8 million notes...
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