News: TRY Troy Resources Says Entered Into A Series Of Agreements That Will Achieve Recapitalisation

Jan 5 (Reuters) - Troy Resources Ltd (TRY) :

• ENTERED INTO A SERIES OF AGREEMENTS THAT WILL ACHIEVE A RECAPITALISATION OF CO
• WOULD CONVERT ABOUT A$18.7 MILLION OF CURRENT DEBT TO EQUITY AND RAISE NEW FUNDS OF ABOUT A$7.2 MILLION
• INTENDS TO OFFER A 1 FOR 1 RIGHTS ISSUE AT SAME PRICE AS PLACEMENT
• ALL NEW SHARES TO BE ISSUED HAVE BEEN PRICED AT A$0.022 PER SHARE