Nagambie Resources Limited (ASX: NAG) (“NRL” is pleased to advise it has received commitments from the holders of Series 6 Convertible Noteholders to the early redemption of Series 6 Convertible Notes to be replaced by the issue of new Series 10 Convertible Notes. The early redemption relates to all Series 6 Convertible Notes having a face value of $1.8 million, and the issue of new Series 10 Convertible Notes having a face value of $1.8 million.
In addition, NRL is raising new capital of up to $2.0 million through the issue of Series 10 Convertible Notes to sophisticated and professional investors at 8.0 cents per note.
The uses of the new funds raised will be:
❖ to accelerate the successful drilling program for Costerfield-Minestyle, antimony-gold mineralisation at the Nagambie Mine; and
❖ to add to working capital.
NAG Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
is pleased to advise it has received commitments from the holders of Series 6 Convertible Noteholders to the early redemption of Series 6 Convertible Notes to be replaced by the issue of new Series 10 Convertible Notes. The early redemption relates to all Series 6 Convertible Notes having a face value of $1.8 million, and the issue of new Series 10 Convertible Notes having a face value of $1.8 million.
