Ann: Successful $15m Placement to drive Block 9 Forward, page-3

Successful $15m Placement to Drive Block 9 Forward Work Program
Highlights
•Firm commitments received for a $15 million Placement at $0.12 per share
•Strong support from domestic and international institutions and sophisticated
investors resulting in a significant excess of demand for the funds sought
•Issue price represents a 14.3% discount to the last closing price of $0.14 per share and
a 1.6% discount to the 5-day volume weighted average price of $0.122 per share
•Funds to be used primarily for Melbana’s share of costs associated with new and
expanded work streams arising from recent exploration successes in Block 9, Cuba
SYDNEY, AUSTRALIA (16 MARCH 2022)
Melbana Energy Limited (ASX: MAY) (Melbana) is pleased to announce that is has received firm
commitments to raise $15 million (before costs) through the issue of 125 million fully paid ordinary
shares at $0.12 per share (Placement) to new and existing institutions and sophisticated investors.
Funds raised from the Placement will strengthen Melbana’s existing cash reserves to meet new and
expanded work streams including:
•upcoming flow tests;
•additional studies;
•planning and permitting work for contemplated appraisal wells;
•field development planning;
•expansion of the executive and operations teams to drive the project forward; as well as
•general corporate purposes.
These placement shares are to be issued under Melbana’s ASX Listing Rule 7.1 placement capacity
and are expected to settle on 22 March 2022 with quotation on ASX expected the following day.
Canaccord Genuity (Australia) Limited acted as lead manager, broker and sole bookrunner to the
placement. They will be paid a cash fee of 6% of the funds rais