StockMarketWire.com - Tower Resources has agreed to issue 15,094,482 new shares under contractual arrangements as part payment for services provided in Q4 2014. The new Ordinary Shares will be issued at a price of 0.666p per share representing the average share price of the last 10 days of the calendar quarter ending 31 December 2014.

A total of 13,621,509 New Ordinary Shares have been issued to P.D.F Limited, the Company's Outsourced Exploration Department (OExD®), a company owned by Dr. Mark Enfield, Managing Director, in part payment for services for the period covering 1 October 2014 to 31 December 2014. P.D.F Limited now holds a total of 41,748,425 Ordinary Shares and Dr. Mark Enfield own 17,350,438 Ordinary Shares in Tower, representing a combined interest of 1.55% of the issued share capital.

A total of 1,472,973 New Ordinary Shares have been issued to QX Energy Limited, a company controlled by Nigel Quinton, Head of Exploration, and his family, in part payment for services for the period covering 1 October 2014 to 31 December 2014. QX Energy Limited now holds a total of 4,670,124 Ordinary Shares and Mr. Quinton and his wife own 9,000,000 Ordinary Shares in Tower, representing a combined interest of 0.36% of the issued share capital.




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