Abilene Oil and Gas Limited (ASX:ABL) announced a private placement of 7,600,000 shares at a price of AUD 0.06 per share for gross proceeds of AUD 456,000 on December 23, 2014. The company will also issue 6,400,000 unlisted options in the transaction. The securities will be issued to sophisticated investors. Each option can be exercised at a price of AUD 0.08 per share on or before October 31, 2017.


On December 23, 2014, Abilene Oil and Gas Limited closed the transaction. The round included participation from existing investor Holdrey Pty Ltd., which purchased 3,516,667 shares at AUD 211,000.