SSN samson oil & gas limited

SSN Refinancing

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    https://finance.yahoo.com/news/samson-oil-gas-refinancing-162200550.html

    Breathing room only. My bolding

    Samson Oil and Gas Limited (SSN, ASX and SSNYY, OTC) has entered into an agreement with DynEvolve Capital which will see DynEvolve subscribe US$1 million in equity through the issue of 4,000,000 ADSs at US$0.25 or A$0.32 per ADS, represented as 800,000,000 ordinary shares at A$0.00161 per share which will represent 19.6% of the company’s issued capital.

    The issue will be completed within the Company's capacity pursuant to ASX Listing Rules 7.1A (as to 328,300,044 shares) and 7.1 (as to 471,699,956 shares) and in accordance with Section 708 of the Corporations Act 2001. Funds raised by the issue will be used for a work over program within the Company's Foreman Butte Project.

    DynEvolve has also agreed to provide a short term US$1 million loan which will be repaid through the issuance of a US$5.5 million convertible note. The note has the ability to convert to ADSs at US$0.45 (A$0.580) and would result in DynEvolve’s shareholding in Samson raising to 50%. The convertible note will require shareholder approval and a shareholder meeting for this purpose is being planned towards the end of May.
 
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Currently unlisted public company.

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