Critical Mineral Resources plc has raised £900,000 for the newly signed exclusive option to acquire the high-grade copper-silver Igli project in the Anti-Atlas, Morocco. TARGETS A total £750,000 was raised yesterday through the issue of a convertible loan note, of which a “significant” proportion will come from Swiss and UAE-based Prism Group AG. The company […]
Tag: convertible loan notes (CLN)
Tungsten West raises £1.6m via CLNs
Tungsten West plc raised £1.6 million by adding an additional tranche to the existing 2023 convertible loan notes. The company said that the CLN had been amended and restated to include a tranche D on substantially the same terms as the CLN tranches of A, B in May 2023 and C in December 2023. The […]
Prospex settles third CLNs repayment
Prospex Energy plc has settled the third and final capital repayment plus accrued interest from the September 2022 convertible loan notes of a total £500,000 value. GROWTH Using accumulated cash within the company, a total of £175,239.83 has been paid to the three CLN holders. Chief executive Mark Routh said that Prospex was now completely […]
Corcel issues 99m shares from £750,000 CLNs
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 […]
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 […]
Tungsten West raises £1.8m and mulls selling some assets
Tungsten West plc raised £1.8 million from the £6.95m convertible loan notes earlier this year for the Hemerdon mine in Devon as it considers selling some of its assets. PROGRESS The proceeds of tranche C will support progress of the permitting process, updating the feasibility study and associated financing. The company also expects to need […]