Tower Resources plc (LSE:TRP) has completed a £280,000 subscription through the issuance of 1,000,000,000 ordinary shares at a modest discount to the prevailing market price. The raise, which follows an earlier subscription, is aimed at strengthening working capital in response to heightened investor interest. The proceeds will support the company’s ongoing activities across its African portfolio, with a particular focus on progressing the Thali project in Cameroon. The transaction also includes broker warrants, signalling investor confidence and reinforcing Tower’s strategic positioning within the African energy sector.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company developing a diversified portfolio of oil and gas opportunities across Africa. Its primary near-term objective is to advance the Thali project in Cameroon, targeting quick-to-market production to generate cash flow. The company is also exploring prospects in Namibia and South Africa, where major recent discoveries have enhanced regional industry potential. Tower focuses on operating in jurisdictions with supportive fiscal regimes and leverages the deep sector experience of its board and strategic partners.
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