Ann: Trading Halt, page-8

Sarah Thompson, Anthony Macdonald and Tim Boyd

Apr 13, 2021 – 7.00am

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Dual-listed helium and LNG producer Renergen Ltd is on the hunt for a cash injection, after announcing it had inked its first direct-to-consumer helium sales deal on Monday.

Renergen is gearing up to launch an equity raising. Louise Kennerley

Sources told Street Talk Renergen was expected to launch an equity raising on Tuesday, seeking between $10 million and $15 million in fresh capital.

The company announced on Monday it had inked its first direct-to-consumer helium deal with a global “tier-one automotive supplier”, using gas from its Virginia gas project, about 250km south west of Johannesburg, South Africa.

Renergen listed in South Africa in 2015, and hit the local boards in June 2019, when it raised $10 million with help from Sydney-based private equity outfit The Eights Group.

Sources said The Eights was on board to help stitch up this raising, as well as MST Financial.

The deal comes as the company’s shares are trading up almost 150 per cent in the last 12 months to close at $2.75 on Monday.https://www.copyright link/street-talk/helium-and-lng-outfit-renergen-readies-capital-raising-20210412-p57im1