Oil and gas explorer Melbana Energy has appointed Canaccord Genuity to manage a $7.1 million non-renounceable entitlement offer, with the funds set to help the company get ready for drilling at its Block 9 site in Cuba.
Priced at 2.4¢ per share, the offer comes at a 16.7 per cent discount to its last trading price.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
