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Scirocco Energy Plc updates Prolific Basins investment agreement

Prolific Basins has over the past year provided US$1mln to Scirocco, with a total of US$925,000 settled through the issue of new shares

 () updated the terms of an investment facility with Prolific Basins LLC, allowing a further US$1mln investment in the company before the end of 2021.

It expands an agreement entered into a year ago.

Prolific Basins can also invest up to a further US$3mln under the facility.

“This is a positive result for the company, as it extends the company’s access to the Investment Facility until the end of the year and shows continuing support for Scirocco,” said chief executive Tom Reynolds.

Earlier this month, Scirocco unveiled a new expansion with a deal to invest in Energy Acquisitions Group Ltd (EAG), a vehicle in the sustainable energy sector with plans to acquire an anaerobic digestion (AD) biogas energy project in Northern Ireland.

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Read More: Scirocco Energy Plc updates Prolific Basins investment agreement

2021-06-25 01:57:00

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