Tower Resources PLC (AIM:TRP) has raised £550,000 through a share subscription to support its work programmes in Cameroon and Namibia.
It is issuing 1.96 billion new shares at 0.028p, with the proceeds used for working capital and license commitments.
"This is an exciting and very active period for us," said chief executive Jeremy Asher.
"Our understanding remains that documentation of our various approvals in Cameroon and Namibia is proceeding as previously disclosed.
"However, we need to maintain readiness for drilling in Cameroon in Q1 2026, and we also need to keep our work programme on track in Namibia, where our entry to the First Renewal Period has already been approved."
"Therefore, we have decided that a small capital raise at this time will aid in supporting these goals and our overall schedule, pending the receipt of farm-out funds."