24th Jun 2015 10:27
LONDON (Alliance News) - Mosman Oil & Gas Ltd on Wednesday said it has raised GBP400,000 via a placing and subscription at a discount, sending its shares lower.
Mosman said it has raised the funding via the issue of 16 million shares at 2.5 pence per share. Shares in the company were down 12% to 2.74 pence on Wednesday, one of the worst performers on the AIM All-Share.
The funding is to be used to back a potential acquisition by the company, details on which it has yet to disclose, and to finalise planning for the Te Wiriki-1 well at the Murchison permit in New Zealand.
By Sam Unsted; [email protected]; @SamUAtAlliance
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