The energy exploration firm reported continued losses and no revenue, completing a CVA to reduce liabilities. With critically low cash reserves, it faces material uncertainty about its ability to continue as a going concern.
The energy company has raised £99,000 through a placing of new shares, with the funds to be used for working capital and strategic initiatives.
The energy company announces the admission of placing shares, but provides limited details on the purpose or use of the proceeds.
The energy and resources company has raised £99,000 through a discounted placing, raising concerns about its financial position and investor sentiment.
Routine board-level change at small energy company