Clontarf Energy raises €460,000 as losses widen

Irish-based exploration firm Clontarf Energy has raised £400,000 (€464,000) via the placing of 80m ordinary shares with new and existing investors.

The new shares represent nearly 15% of the AIM-listed company’s enlarged issued share capital.

The proceeds will provide Clontarf with additional working capital and fund any costs — including legal and nominated advisor fees — associated with its ongoing negotiations regarding its assets in Ghana.