Mining and resources group Corcel PLC (LSE:CRCL) shot up 8.3% on the junior market on Tuesday morning following the announcement of an equity placing to a cornerstone investor and the addition of Antoine Karam as a non-executive board member.
The placing was part of a £1mln fundraising at 0.035p representing a 16.6% premium to the 30-day volume-weighted average.
Executive chairman James Parsons commented: " I am delighted to welcome Antoine to both the Corcel register and, subject to regulatory checks, the Board as we take the first steps in our chosen oil and gas strategy."
Corcel shares were changing hands at 0.034p with a market capitalisation of £2.7mln as of 10.40am, March 28.