Cygnet Capital to raise $2.3 million for Green Rock

In Australia, Green Rock Energy Ltd. has signed an agreement with Cygnet Capital to raise $2.29 million. Cygnet will lead a placement of 70 million ordinary shares to raise a total of $91 million at 1.3 cents per share split across two tranches. The company will also underwrite a non- renounceable rights offer of shares to investors on a one-for-three basis at 1.3 cents per share to raise approximately $1.4 million. Cygnet will be granted 25 million options, exercisable at about 1.7 cents per share, expiring on 30 June, 2013, on completion of the rights issue as part of its fee structure. All capital raised by Cygnet will be subject to a 6% fee.