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Frontera Resources announces new frac campaign and addition of new funding


Published Jan 21, 2014
Frontera Resources Corporation

Frontera Resources Corporation has successfully completed an equity fund raising initiative of GBP 910,000 designed to complement the U.S. $5,000,000 SEDA-backed Loan Agreement that was previously announced on 31 December 2013. Together with the previously announced loan agreement, the complementary funding will support new operations during the first half of 2014 that are designed to increase oil production at the Company's Taribani Field and Mirzaani Field, and support ongoing development drilling at the Mtsare Khevi Gas Complex, situated within the company's broader portfolio of assets in the country of Georgia.

Gross proceeds of GBP 910,000 have been raised through a subscription (the "Subscription") by YA Global Master SPV, Ltd of 122,807,018 new ordinary shares of US$0.00004 each in the Company (the "Subscription Shares").

Tags: Frontera Resources Corporation




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