Mila Resources PLC Issue of Convertible Loan Notes (3950R)
March 05 2021 - 12:07PM
UK Regulatory
TIDMMILA
RNS Number : 3950R
Mila Resources PLC
05 March 2021
Mila Resources Plc
("Mila Resources" or "the Company")
Issue of Convertible Loan Notes
The Board of Directors of Mila Resources ("the Board"), a
natural resources sector focused company, is pleased to announce
that they have raised GBP350,000 through the issue of Convertible
Loan Notes ("CLN") with supportive shareholders. The funds will be
applied to transaction costs to acquire New Generation
Minerals.
1. Issuer Mila Resources
2. Amount GBP350,000
3. Issue Date Varies
4. Maturity Date Six (6) months from the Issue Date
5. Redemption Automatic redemption of principal amount
plus interest on Maturity Date or on Change
of Control (as therein defined)
6. Interest Rate 6% per annum
7. Conversion Automatic conversion on re-admission of
the Company's share capital on the Standard
List of the London Stock Exchange subject
to the passing of resolutions in a General
Meeting
8. Conversion Price 25% discount to the Placing Price (as
therein defined)
9. Security Unsecured
10. Governing Law Governed by the laws of England & Wales,
with exclusive jurisdiction to the courts
in England & Wales
The Company has made good progress on the transaction and has
lodged the prospectus with the FCA. The Company will keep
shareholders updated when a timetable is finalised with the FCA to
re-list.
**ENDS**
For more information visit www.milaresources.com or contact:
Mark Stephenson Mila Resources Plc info@milaresources.com
Jonathan Evans Brandon Hill Capital +44 (0) 20 3463 5000
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