News: AJQ Armour Energy Ltd updates on capital raising program of up to A$40 million

Nov 21 (Reuters) - Armour Energy Ltd (AJQ)

• Asx alert-cornerstone investor secured for capital raising program-ajq.ax
• m.h carnegie and co in agreement for up to $17.5m investment as part of a capital raising program of up to $40m
• Capital raising program of up to $40 million to fund startup of gas production from kincora project
• Under agreed terms, mh carnegie convertible notes subscription may total up to $17.5 million
• Armour energy-net proceeds will be primarily used to fund armour's ongoing development of kincora field assets
• Entities related to armour directors nick mather and stephen bizzell have also committed to subscribe for $1 million each
• Armour energy ltd - cornerstone investor secured for capital raising program-ajq.ax