IN BRIEF: Corcel raises GBP1.1 million to fund Angola programme
Corcel PLC - oil exploration and production in Angola and Brazil - Raises GBP1.1 million via placing at 0.34 pence per share. The placing is led by Toronto-based Purpose Global Resource Fund, who joins as a new institutional shareholder. The round also included follow-on investment from Charlestown Energy Partners, based in New York. Corcel Chief Executive Scott Gilbert, Executive Director and Chief Strategy Officer Geraldine Geraldo, Independent Non-Executive Chair Pradeep Kabra, and Independent Non-Executive Director Andrew also participated in the placing, collectively subscribing for 9.6% of the total amount raised. Proceeds are to be deployed towards the execution of a 2D seismic programme at KON-16, onshore Angola in the third quarter. Read More