Business
Placing to raise £3.5 million
Placing to raise £3.5 million.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3484F\n TomCo Energy PLC\n 16 November 2020\n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW. \n \n \n \n \n \n 16 November 2020\n \n \n \n \n \n TOMCO ENERGY PLC\n \n \n \n \n \n (\"TomCo\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Placing to raise £3.5 million\n \n \n \n \n \n and\n \n \n \n \n \n Multi-site licence with Petroteq\n \n \n \n \n \n TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that:\n \n \n · \n it has raised £3,500,000 (gross) by way of a placing (the \"Placing\") at a price of 0.45 pence; and\n \n \n · \n the Company's 50/50 joint venture with Valkor LLC (\"Valkor\"), Greenfield Energy LLC (\"Greenfield\"), has entered into a multi-site licence with \n Petroteq Energy Inc (\"Petroteq\") for the use of its closed loop system for use in the recovery of oil from oil sands (the \"Oil Sands Technology\") (the \"Petroteq Licence\" or \"Licence\").\n \n \n \n \n \n The Placing\n \n \n \n \n \n The Company has raised £3,500,000 (gross) by way of a placing (the \"Placing\") of 777,777,777 new ordinary shares of no par value in the Company (\"Ordinary Shares\") (the \"Placing Shares\") at a price of 0.45 pence per Placing Share (the \"Placing Price\") through Novum Securities Limited (\"NSL\"), the Company's broker. The number of Placing Shares to be issued represents approximately 115.5% of the Company's current issued share capital.\n \n \n \n \n \n Every two Placing Shares have one warrant attached, resulting in the issue of 388,888,88...