Clontarf Energy PLC - oil & gas exploration and production company focused on South America and Africa - Raises GBP3.5 million from placing of 1.40 billion shares at 0.25 pence each.
Says shares represent 61.7% of issued share capital.
"The net proceeds of the placing will fund costs associated with the company's existing assets and will also provide the company with additional working capital, as the company's board continues to assess new projects," company says. "In this regard, the company has been evaluating a number of different projects across various jurisdictions, in particular advanced gas exploration prospects in Australia."
Will now have 2.27 billion shares in issue.
Current stock price: 0.29 pence, up 6.3% on Wednesday
12-month change: down 22%
By Paul McGowan; paulmcgowan@alliancenews.com
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Clontarf (CLON)