Red Rock Resources plc issued 26,000,000 ordinary shares each at a price of £0.0020196 after receiving notice to convert £52,509.60 of convertible loan notes, including interest. The company has also issued 50 million warrants exercisable into new ordinary shares for two years at 0.2p to an unsecured lender, subject to approval at the next general […]
Tag: convertible loan notes (CLN)
Tungsten West to cut workforce and hours
Tungsten West plc plans to reduce “staff costs” by a further 25% at Hemerdon mine to give priority to planning, permitting, environmental compliance and funding for the project. CREDITORS Chief executive Neil Gawthorpe said that the move to save costs had followed “some difficult decisions”. The reductions will be in the form of redundancies, reduced […]
Tungsten West starts open offer
Tungsten West plc has today started an open offer to raise up to £2 million for costs at the Hemerdon tin-tungsten mine in Devon. TRANCHES The open offer is at an issue price of 3 pence per new ordinary share, with up to 66,666,666 new ordinary shares offered to existing shareholders. The company also confirmed […]
Tungsten West raises £6.95m via CLNs
Tungsten West plc has raised £6.95 million from placing convertible loan notes (CLNs) as part of its fundraise of up to £9m for Hemerdon tin-tungsten mine in Devon. LIABILITIES The company said that the conditional placing with investors was oversubscribed. Tungsten West still has to hold an open offer to raise up to a further […]
Caerus signs up to £625,000 CLN deal
Caerus Mineral Resources plc has signed a subscription agreement with shareholder EV Metals Group plc (EVM) under which Caerus may need EVM to subscribe up to £625,000 for unsecured convertible loan notes. USES The company added that EVM’s holding in Caerus would increase from 16.34% to 29.9% should it require EVM to subscribe for the […]
Prospex raises £500,000 via loan notes for Selva
Prospex Energy plc has raised £500,000 via the issue of unsecured convertible loan notes to existing and new investors. SUBSCRIBERS The company said that the loan notes had been issued to three individual subscribers. The loan notes hold 15% interest and are convertible into new ordinary shares at a price of 5.5p at any time […]