Hummingbird Resources plc has secured a binding agreement with its major investors on a new loan extension. SUPPORT The transaction is with CIG SA and Nioko Resources Corporation regarding the new CIG loan. Shareholders voted in favour of converting the CIG US$30 million loan, dated 6 November, into new ordinary shares in a debt-to-equity conversion. The […]
Tag: debt-for-shares
Hummingbird faces delisting and buyout
Hummingbird Resources plc could be delisted and bought out after it agreed to convert US$30 million debt into shares for its main creditor. CHALLENGES Negotiations on debt restructuring continue with the company’s primary lenders Coris Bank International and CIG SA and its largest shareholder Nioko Resources Corporation. Hummingbird said that challenges at Yanfolila in southern […]