Ascent Resources Plc to Receive £500,000

PrimaryBid, a leading online funding platform that enables investors to gain access to placings of AIM-listed companies, is pleased to announce the latest successful fundraising of £0.5 million for Ascent Resources plc (“Ascent”), sourced entirely through PrimaryBid’s proprietary crowd funding platform.

This is the third time that demand from PrimaryBid members has led to a successful investment into Ascent, further demonstrating the value of the platform to AIM-listed companies seeking to access growth capital. This is also the third PrimaryBid fundraising for AIM-listed companies announced this month, reflecting the increasing traction of the platform amongst investors.

Primary Bid has raised almost £2.4m since the site went live in beta in 2015 and demand continues to grow on the platform. PrimaryBid users are actively “watching” 50% of all AIM companies and more than 80 different AIM companies have received live bids totaling more than £46 million worth of potential equity value, since the formal launch of the platform in March 2016.

Commenting on today’s announcement, Dave Mutton, COO, PrimaryBid said:

“We are delighted to complete another successful placing for Ascent and continue to be excited by the increasing levels of activity across the platform.  This clearly demonstrates the untapped demand for access to placings and fundraisings on AIM from private investors and we look forward to enabling more transactions, bringing together AIM companies with these active investors.

Colin Hutchinson, CEO, Ascent added:

“Yet again we found PrimaryBid a very effective – and inclusive – way to raise funds.  The process is simple, yet offers a great way to tap into demand from investors which we may not typically be aware of, allowing us to broaden our investor base.”