Baron Oil raises £3 Million
August 19, 2014
Baron Oil PLC (AIM:BOIL), the AIM listed independent oil and gas exploration and production company, primarily focused on opportunities in Latin America, has raised £3 million, before expenses, by way of a placing of 206,896,551 new ordinary shares (“Placing Shares“) at a placing price of 1.45p per share (the “Placing“). The Placing Shares have been placed by the company unconditionally save for their admission to trading on AIM. The net proceeds of the Placing will be used for general working capital purposes.
Joan Yu, the Partner who advised Baron Oil on this Placing commented: “We are delighted to have supported Baron Oil with this fundraising particularly during the summer months when it is traditionally considered more difficult to raise funds.”
Kerman & Co’s Capital Markets Team has extensive experience of working with clients and their advisors to raise in excess of US$1 billion in public capital markets financings including institutional private placings, company arranged placings, open offers and rights issues.
Joan Yu (Partner) of the corporate and capital markets team advised Baron Oil PLC on this transaction.