Source - SMW
Solo Oil has raised £2m through the issue of 1.11bn shares at 0.18p each in a company-sponsored placement to a single institutional investor, being Epsilon Pty. 

The Placing Shares will when issued represent 15.9 per cent. of the enlarged issued share capital.

The proceeds of the placing will be used to fund the Company's share of the Ntorya-2 well in Tanzania and settle all outstanding amounts due to YA Global Master SPV, Ltd under an Equity Swap Agreement which has now been terminated.