StockMarketWire.com - Oil and gas company Tower Resources plunged Friday after the company said it had raised £1.5 million via deeply discounted equity offering.

The company raised £1.5 million via a placing and subscription of 576,923,077 shares at a price of 0.26 pence per share, representing a discount of 29% to the closing share price on 13 January 2022.

The proceeds of the capital raise would be used to advance the company's portfolio and to cover working capital requirements going forward.


Story provided by StockMarketWire.com