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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Sun Resources To Raise Funds, U.S. Oil & Gas Exploration 0 comments
    Oct 31, 2013 12:37 AM

    Sun Resources (ASX: SUR) has been granted a trading halt by the ASX this morning, pending a capital raising announcement.

    Sun's shares have been placed in pre-open.

    Earlier in the year Sun raised $13.5 million via a placement to a wholly-owned subsidiary of Hancock Prospecting Pty Ltd, representing an 18.48% interest in Sun Resources' share capital upon completion of the placement.

    The company is preparing to participate in the drilling of three new horizontal wells across its Woodbine Oil Play acreage in Texas including its first operated well at the Normangee Oil Project.

    The halt will remain in place until the opening of trade on Monday 4th November 2013, or earlier if an announcement is made to the market.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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