Forestry Update

RNS Number : 3425D

Obtala Resources Limited

06 July 2016

 

06 July 2016

Obtala Resources Limited

("Obtala", the "Group" or the "Company")

(AIM: OBT)

Forestry Update

Obtala Resources Limited (AIM:OBT), the African focused agricultural and forestry company, announces today that it has received full payment of US$500,000 from two investors, one of whom being The Chairman, as per the investment agreement announced on the 30 June 2016.

The investment proceeds will be used to further develop production capabilities within the Forestry division by building additional drying units and investing in other operating machinery.

Obtala Resources Miles Pelham - Chairman Paul Dolan - CEO www.obtalaresources.com	[phone]
ZAI Corporate Finance Limited (Nomad)                 Ray Zimmerman/Peter Trevelyan-Clark/Jamie Spotswood	[phone]
Brandon Hill Capital  (Broker)      Jonathan Evans	[phone]

 

END

 

 

STRBELLBQDFZBBK