Arc Minerals Limited (LON: ARCM) has informed about entering into Convertible Loan Facility Agreement.
- The company has entered into definitive agreements with a consortium of French and Swedish institutional and HNIâs (High Net Worth Investors).
- The agreement is for raising in aggregate, around USD 1.7million through the issue of unsecured convertible loan notes.
- The convertible loan notes are interest-free, and proceeds from them will be used for working capital purposes.
- The company will be repaying 120% of the aggregate value of the Principal amount, and the repayment date is 12 months after the drawdown date.
- On 31st December 2019, at the time of writing, GMT 08:05 AM, ARCM shares were trading at GBX 3.25, up by 0.15 points or 4.84% against the previous day closing price.