28th Aug 2019 12:56
(Alliance News) - Westmount Energy Ltd on Wednesday said it has raised GBP570,000 by extending a previously announced share subscription agreement.
The company has issued 4.4 million new ordinary shares at 13 pence per share to certain existing investors pursuant to the extended pact.
London-listed shares in Westmount Energy were down 1.6% at 18.20 pence each in afternoon trade.
Westmount Energy last week launched a conditional subscription to raise GBP5.0 million to pursue its ongoing investment strategy, focused on the Guyana-Suriname basin. The energy investment company issued 38.5 million shares at 13p each to new and existing investors.
The new funds raised will also be used by the company to pursue its ongoing investment strategy and for general corporate purposes.
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