Tower Resources (GB:TRP) has released an update.
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Tower Resources has announced a significant fundraising effort, placing over 4.4 billion shares at a discounted price to raise £1.19 million, aiming to support its oil and gas projects in Africa. The company is actively engaged in farm-out negotiations for its Thali project in Cameroon, seeking over $15 million in funding. This strategic move is designed to eliminate financial pressure and maintain operational momentum, particularly for drilling operations in Cameroon and exploration in Namibia.
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