Kincora Copper's (CVE:KCC) major shareholder Origo Partners will hold an increased stake in the company as the Toronto-listed firm plans to issue it with over 14mln shares in settlement of a convertible loan.
Kincora will issue 4.35mln shares at five Canadian cents to settle annual interest, while 10 million shares at 25 cents will be issued to finally clear the C$2.5mln loan.
Following this, Origo will hold around 95.8mln Kincora shares, or 29.6% of the capital (previously 26%), with no outstanding convertible notes or other debt instruments, said the Mongolia-focused mining firm.