# Reabold Resources responds to speculation relating to  potential fundraising

- Link: https://www.directorstalkinterviews.com/reabold-resources-notes-speculation-relating-to-potential-fundraising/412794587
- Published: 2019-10-04T10:12:51+01:00
- Author: Amilia Stone

**Reabold Resources** (LON:RBD), the AIM investing company which focuses on investments
in pre-cash flow upstream oil and gas projects, today noted recent press speculation
relating to a potential fundraising pursuant to an equity placing with certain existing
and new investors.

The Company confirms that it is in the process of taking indications of interest
from investors with regard to an equity placing of between £20 – 24 million, with
the majority of the proceeds intended to be utilised to meaningfully increase Reabold’s
interest in Rathlin Energy (UK) Limited, to fund and accelerate the permitted, two
well work programme at the West Newton project, and to exercise its existing option
in Danube Petroleum Limited, providing the required funding for the IM-2 well.

The bookbuild, being conducted by Stifel Nicolaus Europe Limited, is expected to
open at 4.45pm on Tuesday, 8 October 2019.

Further announcements will be made in due course.  

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