Reabold Resources PLC has secured a £1.9 million cornerstone investment from a group of US-based strategic investors led by Rohan Oza, providing fresh support for the development of its flagship West Newton gas project in the UK.
The investors have conditionally agreed to subscribe for 1.9 billion new shares at 0.1p each, matching the company’s closing mid-market share price on Thursday, 12 March. The investment is subject to shareholder approval and depends on Reabold raising an additional £1.1 million by 12 May 2026, with the wider fundraising expected to be completed on the same terms.
Participants in both the subscription and the broader fundraising will also receive 1.25 warrants for every new share issued, exercisable at 0.11p.
Reabold said the structure could unlock further capital if the planned recompletion of the West Newton A-2 well proves successful and the project progresses toward early production.
Net proceeds will mainly be used to advance the West Newton development, including funding both Reabold’s and Rathlin Energy’s share of the A-2 recompletion programme. The company added that it recently secured the environmental permit required to carry out stimulation work at the well.
