StockMarketWire.com - Oil and gas company Caspian Sunrise said it had raised £1m through the placing of shares at a discount.

The company placed 36,363,629 shares at an issue price of 2.75p per share, representing an approximately 16.2% discount to closing mid-price on 4 August 2020.

'The funds raised by this small placing for cash ... allows the trade creditor position to be brought into balance and we do not expect to need to raise similar funding for at least the rest of the current financial year and probably not at all,' the company said.



At 10:06am: [LON:CASP] Caspian Sunrise Plc Ord 1p share price was -0.38p at 2.9p



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