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: convertible loan notes (CLN)
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 […]
Red Rock raises £500,000 via CLNs
Red Rock Resources plc raised £500,000 from issuing convertible loan notes, each at a price of £10,000. As of 19 October, £210,000 had been raised before expenses by subscription to 21 notes, closing the first tranche of the notes issue. The company will use net proceeds for its gold project in Kenya, lithium assets in […]
Prospex issues 2.5m shares to clear CLNs
Prospex Energy plc received notices to convert a total £109,043.57 in the final two of a group of convertible loan notes into 2,565,732 new ordinary shares each of 0.1p in the company. The CLNs, issued in July 2022, are convertible at 4.25p per share. On admission, the company will have 329,272,881 ordinary shares in issue. “These […]
Prospex issues 14m shares to settle £642,000 CLNs
Prospex Energy plc has issued just over 14 million new ordinary shares to settle £642,000 in convertible loan notes (CLNs) from last year. The company yesterday received notices to convert £453,562.27 in four CLNs in exchange for 10,672,055 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible […]