Pantheon Resources PLC - oil and gas exploration company focused on the Alaska North Slope - Intends to raise a minimum of USD18.1 million through a placing and subscription of shares at a price of 31 pence each.
Proceeds will go towards allowing the company to drill the Talitha well in Alaska within the first quarter of 2021. Any additional proceeds will be used for the testing og the well and further developing the company's asset portfolio. Canaccord Genuity Ltd is acting as nominated adviser and bookrunner for the placing.
Current stock price: 34.40 pence
Year-to-date change: up sharply from 16.50p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Pantheon Resources plc (PANR)