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Record Resources ( (TSE:REC) ) has shared an announcement.
Record Resources has closed a brokered private placement, raising approximately $1.9 million through the issuance of units priced at $0.06, each consisting of one common share and half a warrant exercisable at $0.09 until June 2028. The company plans to use the net proceeds to advance its strategic growth initiatives in Gabon and for working capital tied to its existing oil development and exploration portfolio, while the participation of directors and officers underscores insider support for the funding round, completed under Canadian prospectus exemptions and TSX Venture Exchange policies.
More about Record Resources
Record Resources Inc. is a Calgary-based oil and gas company focused on oil development and high-impact exploration assets, with a strategic growth emphasis on projects in Gabon, Africa.
Average Trading Volume: 405,869
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$7.4M
For detailed information about REC stock, go to TipRanks’ Stock Analysis page.