Quick thumbnail sketch TSX listed Stone Resources will provide funds @ 2.5 cents per share to be issued 89.7m shares. Also will provide $12m redeemable convertible note. Conversion option within 12 months 3.5 cents per share. Conversion option then becomes 6 cents per share. Note to be repaid in 2 years.
There will also be an SPP $2.5m @ 2.5 cents per share for existing shareholders.
You can read the rest. I am surprised that under the circumstances they have pulled this off.
Good luck all.
refinancing news on asx site, page-2
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