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DJ Tlou Energy Raises GBP1.2M in AIM Float

LONDON--ASX-listed Tlou Energy Ltd. (TOU.AU) said Monday it has raised 1.2 million pounds ($1.81 million) and started trading on London's junior AIM market. 

The company, which explores for and produces unconventional gas, principally coal bed methane, has placed 18.46 million new Ordinary shares at 6.5 pence each, with institutional and existing investors. Based on the placing price, the company has a market capitalization of GBP13.37 million. 

It will use the money raised for gas production testing and field operating costs, reserves certification and EIA approval, general and administrative costs and working capital. 

Grant Thornton U.K. LLP is the company's nominated adviser and Brandon Hill Capital is the company's financial adviser and broker. 

November 30, 2015 08:56 ET (13:56 GMT)

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