Focus Xplore plc has allotted 40 million new ordinary shares of £0.001 each, after receiving notice to convert March 2026 loan notes valued at £10,000, at 0.025 pence per conversion share.
TVRs
The company will also issue to the noteholder 40m warrants, each exercisable at 0.025 pence per share for a period of four years from the date of issuance of the conversion shares.
Following admission, Focus’ total issued shared capital will comprise 3,519,420,573 ordinary shares.
The company currently holds uranium, lithium and selected rare earth elements (magnet metals) exploration projects in Ontario, Canada.