6th May 2015 07:24
LONDON (Alliance News) - Frontera Resources Corp Wednesday said it has conditionally raised GBP2.8 million via a discounted share subscription, money it will use to back work on its operations at the Mtsare Khevi Gas Complex and Taribani Field in Georgia.
The oil and gas company is issuing 350 million shares at 0.8 pence per share, a 13.5% discount to its closing price on Monday.
Shares in the company were down 10% to 0.833 pence early Wednesday, one of the worst performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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