Chaarat Gold Holdings Ltd 2021 Convertible Bond Fundraise Update (1567H)
July 30 2019 - 2:02AM
UK Regulatory
TIDMCGH
RNS Number : 1567H
Chaarat Gold Holdings Ltd
30 July 2019
30 July 2019
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
2021 Convertible Bond Fundraise Update
Chaarat (AIM:CGH), the AIM-quoted gold mining company with
assets in the Kyrgyz Republic and Armenia, announces an update with
regard to its ongoing fundraising activities.
As announced on 1 April 2019, the Company entered into an
agreement with a new investor for the subscription and issue of
Convertible Bonds for USD 10 million. The investor subsequently
increased their subscription to USD 15 million, as announced on 31
May 2019.
The investor has failed to deliver the subscription cash
proceeds within the timeframe agreed upon by both parties. As a
result, Chaarat is exploring legal recourse on the matter.
A number of other financing options remain open to the Company.
As well as continuing to evaluate fundraising opportunities on an
ongoing basis, Chaarat will look to raise USD 15 million from the
issuance of 2021 Convertible Bonds from alternative sources. To
this effect, Chaarat is pleased to announce that it has entered
into an agreement with an investor for the subscription and issue
of secured convertible notes 2021 for USD 500,000.
The issue of USD 500,000 additional notes will bring the total
number of notes in issue to USD 19,680,000 following the agreement
with Polymetal to exchange USD 10 million of notes for equity.
Enquiries
Chaarat Gold Holdings
Limited
Artem Volynets (CEO) +44 (0)20 7499 2612
info@chaarat.com
Numis Securities Limited
John Prior, Paul Gillam
(NOMAD) +44 (0) 20 7260 1000
James Black (Corporate
Broking)
Powerscourt
Conal Walsh +44 (0)20 7250 1446
Sam Austrums chaarat@powerscourt-group.com
About Chaarat
Chaarat is a gold mining company which owns the Kapan operating
mine in Armenia as well as the Tulkubash and the Kyzyltash Gold
Projects in the Kyrgyz Republic. The Company has a clear strategy
to build a leading emerging markets gold company with an initial
focus on Central Asia and the FSU through organic growth and
selective M&A.
Chaarat is engaged in active community engagement programmes to
optimise the value of the Chaarat investment proposition.
Chaarat aims to create value for its shareholders, employees and
communities from its high-quality gold and mineral deposits by
building relationships based on trust and operating to the best
environmental, social and employment standards. Further information
is available at www.chaarat.com.
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contact rns@lseg.com or visit www.rns.com.
END
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