Corcel plc received notice to convert its outstanding £750,000 convertible loan notes plus interest into 98,917,808 new ordinary shares of the company at a price of £0.008. DIRECTORS The company said that the notice from Extraction Premium and Mining Ltd (EXT) retired the current balance of the facility in full. EXT, incorporated in the UK, is […]
Tag: Antoine Karam
Corcel converts £250,000 CLNs into 32m shares
Corcel plc received notice to convert £250,000 of its outstanding convertible loan notes and associated interest into 32,061,643 new ordinary shares of the company at a price of £0.008. The notice from Extractions Premium & Mining Ltd, of which Corcel executive chairman Antoine Karam owns 45%, leaves the principal balance of the CLNs at £750,000. Following […]
Corcel agrees up to potential £10m unsecured CLNs
Corcel plc has agreed an unsecured convertible loan notes for up to a potential £10 million over three years for its oil and gas interests in Angola and Brazil and “operations elsewhere”. ACCELERATE Investment company Extraction Srl, whose chairman is a major shareholder in Corcel, will lend £1m this month, £1m in January 2024 with a […]
Corcel CEO James Parsons steps down
Corcel plc chief executive officer and director James Parsons will step down as part of the company’s planned transition from metals and minerals to oil and gas. Mr Parsons, who became CEO on 14 June when he received 12.4 million shares in part payment of wages, remains with the company in an advisory role during his […]
Corcel appoints new CEO and CFO in board changes
Corcel plc has made a series of board changes with current chairman James Parsons becoming chief executive officer and executive director with immediate effect. Scott Kaintz moves from the CEO role to chief financial officer and steps down from the board. Antoine Karam joins the board as a non-executive chairman. He is a 45% shareholder […]
Corcel completes £1m placing with cornerstone investor
Corcel plc has completed a placing for £1,055,515 with an oil and gas focused cornerstone investor group. USES The fundraising was at a price of £0.0035, representing a 11% premium to the closing price of 27 March 2023 and a 16.6% premium to the 30-day VWAP. Corcel issued 301,575,574 new ordinary shares of £0.0001 to a […]