2nd Mar 2015 16:42
LONDON (Alliance News) - Sirius Petroleum PLC Monday said it will issue just under 43.9 million shares at "pre-agreed" prices with unrelated parties, averaging 2.25 pence per share.
The company said it will issue the shares to "capitalise loans used for working capital and in settlement of fees and certain creditors". Sirius has elected to settle the loans in shares whilst it is in the process of finalising it operational funding requirements, it said.
Sirius shares closed up 1.4% to 1.80 pence per share on Monday.
By Joshua Warner; [email protected]; @JoshAlliance
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