Tower Resources PLC - Africa-focused oil and gas company - Announces institutional share placing worth up to $6 million with Energy Exploration Capital Partners LLC. Initially the placing will raise $1.3 million at a premium price of 0.36p, after which EECP will invest up to $1.8 million in aggregate for shares worth up to $1.9 million. If required, Tower may raise a further $3.0 million from Energy Exploration Capital Partners via a shares issue.

Current stock price: 0.15 pence, down 4.2% on Monday

12-month change: down 46%

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