Eco raises cash for Guyana offshore drilling

Oil and gas company Eco Atlantic has raised cash through a share placement with the proceeds aimed at funding of offshore wells in Guyana.

Eco said on Thursday it has conditionally raised, in aggregate, $17 million before expenses through an oversubscribed placing and subscription of, in aggregate, 16,159,695 new common shares of no par value in the capital of the company at a price of 80 pence per common share.

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