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LONDON (Alliance News) - Tower Resources PLC on Wednesday said it has raised GBP5.2 million via a share placing to back the acquisition of the Thali production sharing contract in Cameroon.
Tower has raised the funds via the issue of 2.74 billion shares at 0.19 pence per share. Shares in the company were up 16% to 0.2199 pence on Wednesday morning, one of the best performers in the AIM All-Share.
The funding will back Tower's acquisition of a 100% interest in the Thali project and will cover the payments of new regional strategy in Namibia.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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