Posted on: December 3, 2020

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Gneiss Energy is pleased to announce we have successfully acted as Placing Agent for Block Energy plc (AIM:BLOE).

Block, a production company focused on exploration, development and production onshore Georgia, announced today that it successfully raised approximately £5.28 million through the issue of new ordinary shares to investors at a placing price of 3p per share.

The net proceeds raised from the placing will be additive to the Company’s existing cash balance, and will be used by the Company to execute its further work programme in Georgia.

Our Oil & Gas team is delighted to announce our 8th transaction of 2020.

For the official press release, click here.

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