AXP Energy Limited (ASX: AXP, OTC: AUNXF) has announced it has secured firm commitments for an A$800,000 capital raising. AXP Energy is an oil and gas production and development company focused on growing production and unlocking value from its portfolio of energy assets in the United States. The funds raised will be used to advance the development of the company’s Oklahoma oil project and to assess new lease/farm-in opportunities for future growth.
The capital raising will be completed via a placement to sophisticated and professional investors through the issue of 66,666,667 new fully paid ordinary shares at an issue price of A$0.012 per share. The placement received support from both existing shareholders and new investors.
Managing Director Dan Lanskey said, “We appreciate the continued support from both existing and new investors. This new capital allows us to continue advancing development of our Oklahoma oil project while maintaining working capital flexibility in order to assess new farm-in and lease opportunities.” The placement price of A$0.012 per share represents a 7.7% discount to the company’s last closing price on Wednesday, 4 March 2026, of $0.013, and a 6.24% discount to the 15-day volume weighted average price (VWAP) of $0.0128.
The new shares will rank equally with existing ordinary shares on issue. Settlement of the placement shares is scheduled for Monday, 16 March 2026, with expected ASX quotation of the shares on Tuesday, 17 March 2026. Following the placement, the total number of shares on issue will be 442,554,364.
