Arc Minerals Limited enters into a Convertible Loan Facility Agreement

December 31, 2019 08:32 AM GMT
Team Kalkine

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.

Disclaimer

The website https://kalkinemedia.com/uk is a service of Kalkine Media Ltd (Kalkine Media), Company Number 12643132. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.