20th Nov 2020 17:42
Pantheon Resources PLC - oil and gas exploration company focused on the Alaska North Slope - Raises USD30.2 million through upsized and oversubscribed placing, subscription and retail offer of 73.8 million shares at a price of 31 pence each.
Fundraise's minimum target was USD18.1 million.
Proceeds will go towards allowing the company to drill the Talitha well in Alaska within the first quarter of 2021, and will also include the drilling of a horizontal section into the Shelf Margin Deltaic sequence.
Canaccord Genuity Ltd is acting as nominated adviser and bookrunner for the placing.
Current stock price: 32.40 pence
Year-to-date change: up 96%
By Dayo Laniyan; [email protected]
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