Sprint Energy Ltd Raises AUD 3 Million

Sprint Energy Ltd announced that the Company has received commitments to raise a gross AUD 3.0 million. The raising has been achieved through the placement of 100 million shares at AUD 0.02 per share for AUD 2 million to sophisticated and professional investors in Australia and internationally. A further AUD 1 million has been raised through an unsecured convertible debt instrument. The debt is convertible at a 25% premium to the raising price, with an interest rate of 8% per annum and is over a two year term.