Tower Resources plc (LSE:TRP) has secured £550,000 through a subscription of 1,964,285,714 ordinary shares issued at a discounted price. The proceeds will be used to fund working capital and commitments related to the company’s exploration licenses, including data acquisition activities in Namibia. The capital raise will increase Tower’s share capital base and supports its preparations for upcoming drilling operations in Cameroon while continuing its work program in Namibia. This initiative aligns with the company’s strategy to maintain operational momentum and project readiness across its African portfolio.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company focused on developing a balanced portfolio of oil and gas opportunities in Africa. Its primary activities include short-cycle development and production projects in Cameroon, along with seismic data acquisition programs in Namibia and South Africa aimed at de-risking exploration assets in emerging hydrocarbon provinces.
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