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Frontera Resources raises £2.5m via PrimaryBid.com
European oil and gas explorer Frontera Resources said it had raised £2.5m using the online AIM-market crowdfunding website PrimaryBid.com.
The company said it would allot and issue 536.5m new ordinary shares as a result.
The proceeds will be used for operations on wells in the company's Taribani and Mtsarekhevi operations in Georgia.
Frontera chief executive Zaza Mamulaishvili said: "We are delighted to have once again used PrimaryBid's innovative platform that allowed investors who have supported us in the past, along with a growing number of new investors, to access this offer."
"It is very encouraging to see such interest in the company and its current operations."
The company said it would allot and issue 536.5m new ordinary shares as a result.
The proceeds will be used for operations on wells in the company's Taribani and Mtsarekhevi operations in Georgia.
Frontera chief executive Zaza Mamulaishvili said: "We are delighted to have once again used PrimaryBid's innovative platform that allowed investors who have supported us in the past, along with a growing number of new investors, to access this offer."
"It is very encouraging to see such interest in the company and its current operations."
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Frontera Resources Corporation (DI) (FRR) share price |
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