Sound Energy garners cash to pursue Moroccan LNG project

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By Adnan Bajic The UK-based Sound Energy has issued 129.4 million shares aiming to raise £2.75 million ($3.56 million) as it pushes forward with its Moroccan LNG project.

The company noted it is also looking to place a further 82.4 million additional shares for £1.75 million.

The net proceeds will be used to strengthen the company’s cash position as it continues to progress its phased development strategy as outlined in its announcement of February 17, 2020.

The net proceeds, in addition to total existing cash resources, are sufficient to meet the company’s present working capital requirements through to March 2021 and will enable Sound

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