LONDON (Alliance News) - Orogen Gold PLC on Friday said it has issued another batch of shares to DEM Geosciences SAL to cover costs owed for diamond drilling services carried out in 2014.
Orogen said it has issued 36.4 million shares to DEM at 0.2 pence per share, representing a total value of GBP72,800. Orogen said the deal is the final share issue it will make related to payments for drilling services carried out in 2014.
DEM has committed to a lock-in agreement, by which it will not dispose of any of the new shares for two years.
Shares in Orogen were up 8.7% to 0.065 pence on Friday, one of the best performers in the AIM All-Share in early trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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