LONDON (Alliance News) - Highlands Natural Resources PLC on Wednesday said it has raised GBP519,093 through a subscription agreement with an existing shareholder.
Highlands said it issued 2.9 million shares at 18.00 pence per share to raise the funds. Shares in the company were up 19% to 25.00p.
The funds will be used to back the acquisition of oil and gas assets and technology, Highlands said, as it looks to capitalise on the depressed oil and gas market environment.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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