LONDON (Alliance News) - Lansdowne Oil & Gas PLC said on Wednesday it has raised GBP50,000 by issuing 5.0 million shares through the exercise of warrants held by joint broker Brandon Hill Capital at a price of 1.0 pence per share.
The proceeds brings the company's cash balance to GBP266,000, while the day-to-day running costs of Lansdowne are around GBP35,000 per month.
Brandon Hill now holds 8.2 million shares, which exercised would provide Lansdowne with GBP96,345 in total.
Lansdowne Oil & Gas now has 661.8 million shares issued overall.
Shares in the North Celtic Sea-focused oil and gas company were down 2.7% at 1.97 pence on Wednesday.
Lansdowne Oil (LOGP)