Golden Gate Petroleum (ASX: GGP) has received a notice of initial substantial shareholding from The Australia Special Opportunity Fund (ASOF) run by The Lind Partners, which now holds a 5.96% stake.
ASOF had acquired 65,555,556 shares on 5 September, adding to the 211,358,877 shares it already held, bringing the total up to 276,914,433.
The company had in March this year secured up to $7.5 million in funding from ASOF.
In addition to the initial $600,000 it invested on execution, Lind will further invest between $100,000 and $300,000 per month in monthly share subscriptions, over two years.
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