Tower Resources (GB:TRP) has released an update.
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Tower Resources has announced a £275,000 subscription to issue over a billion ordinary shares at a slight discount, attracting interest from both existing and new institutional investors. This move aims to bolster the company’s working capital for its African oil and gas ventures, particularly in Cameroon, and involves broker Axis Capital Markets, which will receive warrants as part of the arrangement. The newly issued shares are set to commence trading on AIM by late November, expanding Tower’s share capital significantly.
For further insights into GB:TRP stock, check out TipRanks’ Stock Analysis page.