United Oil & Gas plc has issued the second tranche of shares relating to the December £700,000 fundraise.
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The balance of 315 million new ordinary shares of £0.00001 each have one warrant for every two subscribed placing shares.
Following admission, United total issued share capital will be 1,856,353,969 ordinary shares of £0.00001, with voting rights. The company holds no shares in treasury.
The first tranche issued last month within existing shareholder authorities totalled 385m new ordinary shares raising £385,000.
Proceeds will advance work on the 22,400km2 Walton Morant exploration licence, offshore Jamaica.
Chief executive Brian Larkin has also assumed the role of interim chairman until a successor is appointed to replace previous postholder Graham Martin.