16th May 2023 14:14
Tower Resources PLC - Africa-focused oil and gas company - Raises GBP2.3 million in a conditional placing of 4.6 million shares at a price of 0.05p each, a 56% discount to Monday's closing price in London of 0.11p. Says it will use the funds for preparation of drilling of the Njom-3 well, including associated services payments, and as working capital. "A portion of the funds raised will also be used to advance the company's other 2023 work programs in Namibia and South Africa, including the ongoing basin modelling work currently underway on the company's Namibian license PEL 96," Tower says. Read More