Anson Resources Limited (ASX: ASN) has announced that it has agreed to issue convertible notes with a face value of $1.092 million (US$750,000) as a first of three tranches of investment facility of totalling $3.275 million (US$2.250 million) offered to the Company by its major shareholder Chia Tai Xingye International, Zhongfan Group.
The issue of convertible notes Chia Tai is a further commitment to Anson’s Paradox Brine Project in Utah, USA and follows the successful piloting and production of bromine at the facilities of De Dietrich in Germany.
The proceeds will be used to fund a preliminary feasibility study and the settlement of first tranche is scheduled for 20 January 2020.
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