Oil Explorer Alba Mineral Raises GBP750,000 Via Shares Placing (ALLISS)

29th Mar 2018 12:53

LONDON (Alliance News) - Alba Mineral Resources PLC said Thursday that it has raised GBP750,000 in gross proceeds via the issue of 250 million new ordinary shares at 0.3 pence per share.

Placing proceeds will be used by the company to advance its interests across its existing portfolio of assets in the onshore UK oil and gas sector, at Horse Hill and Brockham; its mining exploration portfolio, mainly in Greenland and Wales; and for general working capital purposes.

Shares in the oil and gas explorer were trading up 14% at 0.40 pence. The company will have 2.58 billion shares in issue following admission of the new shares.

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