Pantheon Resources (GB:PANR) has released an update.
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Pantheon Resources PLC is launching a fundraise to secure a minimum of $18.5 million through a mix of placing and subscriptions at 17 pence per share to finance the drilling of the Megrez-1 well and other corporate purposes. The funds will also support lease rentals and development of the company’s asset portfolio, with institutional investors participating through an accelerated bookbuild and retail investors through the PrimaryBid platform. Additionally, the company has shown confidence in the Megrez-1 project’s potential, indicated by the board and key advisers’ personal investment of approximately $1.0 million in the fundraise.
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