Tower Resources PLC (AIM:TRP) has issued warrants in lieu of £30,000 in fees to conserve working capital. The warrants are issued to directors Paula Brancato, Mark Enfield, and chairman Jeremy Asher.
These warrants are exercisable at 0.018 pence, a 29% premium to the June 28 share price, and are valid for five years. Jeremy Asher receives 142,857,142 warrants, Paula Brancato and Mark Enfield each receive 71,428,571 warrants.