Australia's Delorean Corporation posts record gains on development funding deal

Iceco

19/10/2022 02:31

** Shares of Delorean Corporation Ltd  DEL.AX  climb as much
as 44.6% to A$0.094, on track for a record pct gain, if gains
hold
    ** Bioenergy co says it entered into binding agreement to
form multi-project development funding partnership with funds
managed by private investment management Palisade Impact Pty
 urn:newsml:reuters.com:*:nASXbxS8Lw
    ** Says under agreement, Palisade Impact will invest A$5 mln
 ($3.16 mln) in delorean by way of convertible notes in two
tranches 
    ** More than 1,225,285 shares change hands, 3.7 times the
30-day average volume 
    ** Stock has fallen 69.1% this year as of last close
($1 = 1.5845 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))