Xcite Energy closes second stage of private placing

Oil and gas producer Xcite Energy has closed the second stage of its private placing with Global Resource Funding Partners, with which it has placed 12.5m units rather than the orginally planned 10m.

Oil and gas producer Xcite Energy has closed the second stage of its private placing with Global Resource Funding Partners, with which it has placed 12.5m units rather than the orginally planned 10m.

The overall number of units placed is now 32.5m, prividing the company with gross proceeds of around £8.3m. The placing will occur in three stages.

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