Geo Energy plans to raise $14.875 mil placing out new shares at 42.5 cents each

At 42.5 cents each, the placement price is a discount of 4.49% to the last full day weighted average price of 44.5 cents on March 3.

With all new shares issued, the coal miner's share base will increase by around 2% to more than 1.74 billion shares.

This placement is managed by KGI Securities.