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Bass Oil Ltd (ASX:BAS) has announced a $2.5 million capital raise via a Placement and Rights Issue.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.

Following the announcement shares of Bass Oil Ltd (ASX:BAS) traded flat.

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