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Loyz Energy plans $17.5m private placement

Proceeds to be used for its oil and gas exploration business

LOYZ Energy has proposed a private placement of 50 million new shares at $0.35 each to raise net proceeds of about $17.46 million.

The new share price is at a 9.8 per cent discount to the volume weighted average price of $0.3881 for trades done on Oct 10.

The company had on Oct 14

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