Leading commercial law firm Hill Dickinson has recently advised AIM-listed client Solo Oil plc ('Solo Oil') on a company-sponsored placing raising approximately £2.41 million and an open offer to shareholders raising approximately £1.2 million.

Solo Oil is a natural resources investment company whose investing policy is to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets, and any other subsurface gas assets of potential commercial significance, located worldwide but predominantly in the Americas, Europe or Africa.

The proceeds of the fundraising will be used to meet likely cash calls by various operators in order to fund the on-going operations in some of Solo Oil’s key investments in the coming months.

The Hill Dickinson team was led by corporate partner Jaspal Sekhon with assistance from Katie Somerville (associate).