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 […]
Tag: convertible loan notes (CLN)
Prospex Energy 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 […]
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 […]