28th Jul 2015 10:00
LONDON (Alliance News) - Edge Resources Inc on Tuesday said it has raised CAD500,000 with a new strategic investor to back its ongoing strategy to acquire oil and gas assets.
Edge said it has raised the funds via a private placement at USD0.08 per share, a 10.55 premium to its ten-day volume-weighted average price.
Edge said the funding is the first step by the unnamed investor towards becoming a long-term capital partner through the funding of several acquisitions in coming months.
Edge shares were up 17% to 3.6499 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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