Tower Resources (GB:TRP) has released an update.
Tower Resources PLC, an AIM-listed oil and gas company focusing on Africa, has announced the issuance of warrants to its directors and a consultant in place of cash fees to conserve working capital. The warrants, issued at a 29% premium to the recent closing share price, represent an aggregate of £30,000 in fees for the third quarter of 2024 and are exercisable for five years. Following this issuance, the total number of warrants in issue accounts for 8.1% of the company’s enlarged share capital.
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