Invictus Energy&#x27;s Bold Move: Entitlement Offer to Propel Cabora Bassa Project<br><br>Strategic Expansion in Sub-Saharan Africa<br><br>Invictus Energy Ltd, an independent oil and gas exploration company listed on the Australian Securities Exchange (ASX: IVZ), has announced a significant step towards expanding its operations in sub-Saharan Africa. The company, with a focus on high-impact energy resources, has launched an entitlement offer aimed at raising capital for its ambitious Cabora Bassa Project in Zimbabwe.<br><br>The Cabora Bassa Project: A Game Changer: Unveiling Zimbabwe&#x27;s Potential<br><br>Situated within a sprawling 360,000 hectares in the Cabora Bassa Basin, the project encompasses the promising Mukuyu and multiple Basin Margin prospects. Invictus Energy’s Managing Director, Scott Macmillan, emphasized the transformational nature of the discoveries at Mukuyu-2, particularly for Southern African communities grappling with energy shortages.<br><br>The Entitlement Offer: A Financial Catalyst<br><br>The entitlement offer aims to raise up to AU$15.2 million at AU$0.13 per share, with an issue of 1 share for every 12 shares held on the record date. Additionally, the offer attaches a one-for-two IVZOA option for every share applied for. This move follows a highly successful private placement in December 2023, which raised over AU$15 million.<br><br>Management and Board: Steering the Company’s Direction: A Strong Leadership Team<br><br>John Bentley serves as the Non-Executive Chairman, with Joe Mutizwa as the Non-Executive & Deputy Chairman. The board also includes Robin Sutherland and Gabriel Chiappini as Non-Executive Directors, with the latter also holding the role of Company Secretary. At the helm of operations is Managing Director Scott Macmillan, whose leadership has been pivotal in navigating the company through its exploration and development activities.<br><br>Utilization of the Capital Raised: Funding Critical Activities<br><br>The funds from the entitlement offer will be channeled into crucial operational activities at the Cabora Bassa project. This includes well testing at Mukuyu-2, preparation for 3D seismic surveying over the Mukuyu gas field, and planning for a new high-impact exploration well. These activities are essential for the progression and development of the project, setting a solid foundation for future growth.<br><br>The Offer Details and Timetable: Specifics of the Entitlement Offer<br><br>The offer consists of a pro-rata non-renounceable entitlement issue of one share for every 12 shares held at the record date, set for January 30, 2024. Approximately 117,204,164 shares and 58,602,082 IVZOA options may be issued under the offer.<br><br>Key Dates for Shareholders<br><br>The prospectus will be dispatched to shareholders on February 2, 2024, with the closing date set for February 19, 2024. The results of the issue will be announced on February 26, 2024, when the securities are expected to be quoted on a deferred settlement basis.<br><br>A Leap Towards Energy Security<br><br>Invictus Energy&#x27;s entitlement offer and the ongoing development of the Cabora Bassa Project mark a significant stride in addressing the energy challenges in Southern Africa. With a competent leadership team and a strategic plan in place, the company is well-positioned to unlock the untapped potential of the region’s energy resources, promising a brighter and more secure energy future.