Genex Power

Canaccord Genuity acts as Joint Lead Manager and Bookrunner to Genex Power Limited on its AUD$8 million Capital Raise

Canaccord Genuity is pleased to announce the completion of a capital raise of 47 million shares at an offer price of AUD$0.16 per share, raising gross proceeds of approximately AUD$8 million on behalf of Genex Power Ltd. (“Company”) (ASX.GNX). Canaccord Genuity acted as Joint Lead Manager and Bookrunner for the transaction, which was heavily oversubscribed by institutional and sophisticated shareholders.

The proceeds will primarily be used to reach financial close on the Company’s 50MW Kidston solar project in North Queensland. The Project is underpinned by one of the highest solar resources in Australia and a 20-year revenue contract with the Queensland Government. 

Genex Power Ltd. is an ASX listed power generation development company. Genex is focused on innovative clean energy generation and electricity storage solutions which deliver attractive commercial returns for shareholders. Genex is currently pursuing a number of unique energy development opportunities across Australia, including its 50MW Kidston solar project and its 250MW Kidston hydroelectric pumped storage generation project, both located in Northern Queensland.