Tower Resources (GB:TRP) has released an update.
Tower Resources, an AIM-listed oil and gas company, has announced a significant fundraising effort, issuing 4.4 billion shares at a discounted rate to raise £1.19 million. This move aims to alleviate funding pressures while the company progresses negotiations for a farm-out agreement in Cameroon, which could secure over $15 million for drilling operations. The company is also seeking further financial support from African banks to expand its production capabilities in the region.
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