Dune Oil Updates OTCQB Symbol and Completes Additional Private Placement
Dune Oil Corp has updated its trading symbol on the OTCQB market to 'DUNXF', effective September 14, while maintaining its CSE (C:DUNE) and Frankfurt (FRA:Z620) symbols. The company also completed additional tranches of a non-brokered private placement, raising gross proceeds of CAD $422,500 by issuing 2.8 million units at CAD $0.15 each. In addition to the fundraising, Dune Oil settled CAD $20,000 in outstanding debt through the issuance of 133,333 units to an arm's length party. Each unit includes one common share and half a warrant exercisable at CAD $0.25 for one year from issuance. The shares and warrants are subject to hold periods until December 26, 2026, and January 15, 2027, respectively. The funds will be used to support the M47 oil exploration block work program, investor relations activities, and general working capital needs. Dune Oil is also participating in a growth summit on September 16, where management plans to discuss its project milestones and strategy.
Tickers: $TRLEF