Tower Resources (GB:TRP) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Tower Resources, an AIM-listed oil and gas company, has announced a significant fundraising effort, issuing 4.4 billion shares at a discounted rate to raise £1.19 million. This move aims to alleviate funding pressures while the company progresses negotiations for a farm-out agreement in Cameroon, which could secure over $15 million for drilling operations. The company is also seeking further financial support from African banks to expand its production capabilities in the region.
For further insights into GB:TRP stock, check out TipRanks’ Stock Analysis page.
