Argonaut, as lead manager, has assisted High Peak Royalties Limited (ASX: HPR) (“High Peak”), formerly Torrens Energy Limited, in the off-market takeover of the unlisted Phoenix Oil & Gas Limited and has successfully placed, via public offer, A$6.0 million (gross) at $0.25 per share. Argonaut congratulates High Peak on the acquisition, restructure and capital raising.
The merged group’s key business strategy will be to expand its portfolio of royalty interests in a manner which enhances shareholder value with a preference to acquire or create production and/or near term production royalties along with royalties which have significant exposure to future exploration success.
Argonaut is delighted to be involved with High Peak and looks towards the relationship continuing.
Additional information regarding High Peak, the Merger and Placement can be found on the company’s website at www.torrensenergy.com.