LONDON (Alliance News) - Cluff Natural Resources PLC on Wednesday said it has raised GBP727,000 via a placing and subscription.
Cluff, a natural resources sector investor, issued 58.2 million shares at 1.25 pence per share. Cluff shares were down 15% to 1.275p.
Cluff said the proceeds from the placing should fund the company through to the end of 2016 and provide cash to carry out further geological and technical work on its existing North Sea portfolio and secure additional North Sea licenses.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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