Upland Resources Limited, the oil and gas company actively building a portfolio of attractive upstream assets in proven, mature south-east Asian and north African basins announced that it has raised GBP470,000 (before expenses) via a placing and subscription of new ordinary shares of no par value in the Company (the “Placing and Subscription”).
The funds will be used to progress technical and commercial workstreams relating to the Company’s projects in Tunisia and South East Asia and for general working capital purposes.
The Company will issue 67,142,861 new ordinary shares of no par value at 0.7p per share pursuant to the Placing and Subscription (the “Placing and Subscription Shares”).
