Ridgecrest Plc (AIM:RDGC) will look for acquisition opportunities. The company has conditionally raised £2.0 million (before expenses) via a proposed placing of 333,333,337 new ordinary shares of 0.01 pence each at an issue price of 0.6 pence per new Ordinary Share. The Company intends to use the net proceeds of the Placing for its general working capital purposes and to assist it in identifying and pursuing acquisition opportunities. There can be no certainty however that a suitable acquisition opportunity will be identified nor that such an acquisition would proceed to completion in the timeframes mentioned above, or at all.