With a $3m facility funding to take it to next phase, and former head of BHP Billiton's CSG business, Rohan Gillespie at the helm, Red Sky has developed a commercialisation path to add significant value
Red Sky Energy has secured a $3 million funding facility from U.S. based Investment Fund YA Global Master SPV Ltd.
With the facility, Red Sky has sufficient cash reserves to fund the proposed Talma pilot test at the company’s shallow gas discovery at Kangaroo Creek in the Clarence Moreton Basin, in north east New South Wales.
Under the terms of the funding facility, Red Sky can issue shares to YA Global at any time over the next three years, up to a total of AUD$3 million. Red Sky may draw down up to AUD$100,000 in any 10 trading day period.
The funding facility can be drawn down at any time over a 3 year period, and can be cancelled at any time.
With the facility, Red Sky has sufficient cash reserves to fund the proposed Talma pilot test at the company’s shallow gas discovery at Kangaroo Creek in the Clarence Moreton Basin, in north east New South Wales.
Under the terms of the funding facility, Red Sky can issue shares to YA Global at any time over the next three years, up to a total of AUD$3 million. Red Sky may draw down up to AUD$100,000 in any 10 trading day period.
The funding facility can be drawn down at any time over a 3 year period, and can be cancelled at any time.
Pro Active Investors Australia
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