Source - SMW
Solo Oil has entered into a convertible loan agreement with institutional investors arranged by RiverFort Global Capital for a total maximum commitment of $5m.  

The company has also drawn a first tranche of $1.5m, with subsequent drawings against the facility to be at the company's sole election.

The first tranche will be used to fund the final reconciled expenses for the Ntorya-2 well and flow testing in Tanzania, in which Solo holds a 25% working interest, among other expenses.

At 9:15am: (LON:SOLO) Solo Oil PLC share price was 0p at 5p