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An announcement from Tower Resources ( (GB:TRP) ) is now available.
Tower Resources plc has announced a subscription to raise £550,000 through the issuance of 1,964,285,714 ordinary shares at a discounted price. This capital raise is intended to fund working capital and commitments on the company’s licenses, including data acquisition in Namibia. The subscription will result in an enlarged share capital, and the company is preparing for drilling activities in Cameroon and maintaining its work program in Namibia. This move is part of Tower’s strategy to ensure readiness for upcoming projects and to support its operational schedule.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company focused on building a balanced portfolio of energy opportunities in Africa, primarily in the oil and gas sector. The company is advancing operations in Cameroon for short-cycle development and rapid production, while also acquiring 3D seismic data in Namibia and South Africa to de-risk exploration licenses in emerging oil and gas provinces.
Average Trading Volume: 263,467,162
Technical Sentiment Signal: Sell
Current Market Cap: £9.97M
Learn more about TRP stock on TipRanks’ Stock Analysis page.