3rd Jul 2014 09:46
LONDON (Alliance News) - Frontera Resources Corp Thursday said it has raised GBP350,000 through an equity fund-raising initiative which was subscribed for by financial services company Shard Capital Partners LLP.
The oil and gas exploration and production company said Shard Capital subscribed for 48.6 million shares in the company, representing 1.85% of the enlarged share capital.
The company said it will use the funds to support ongoing operations including the development of its Mtsare Khevi, Mirzaani and Taribani oil and gas fields in eastern Georgia.
Frontera Resources shares were trading flat at 0.775 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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