Oriole Resources PLC - London-based gold exploration company, focused on an early stage exploration project in Cameroon and the more advanced Senala gold project in Senegal - Raises GBP195,500 via a subscription buy Non-Executive Chair Eileen Carr. A total of 115.0 million new shares will be issued at a price of 0.17 pence per share. The proceeds will primarily be used for working capital to develop project-level funding opportunities and joint-venture partnerships at its exploration projects in Cameroon.
Carr is now interested in 5.33% of the issued share capital. "Having been chair of Oriole for just over a year, I have seen the great work our exploration team has completed on the ground in Cameroon and the exciting results we are achieving from both our Bibemi project and the Central Licence Package," she says. "I hope this investment demonstrates my commitment to the success of Oriole and underlines my belief in the team and our assets."
Current stock price: 0.21 pence, up 22% in London on Wednesday
12-month change: down 35%
By Sophie Rose, Alliance News reporter
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