LONDON (Alliance News) - Oil and gas company Frontera Resources Corp on Wednesday said it has drawn down GBP532,668 under its standby equity distribution agreement with YA II PN Ltd.
The draw down was undertaken at a price of 0.2594 pence per share per share and will result in the issue of 205.3 million shares.
The funds will be used to advance work programmes and reduce corporate debt, Frontera said.
Shares in Frontera were trading up 13% at 0.1575 pence on Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
