Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, announces an update with regard to its secured convertible notes 2021 ("Convertible Bonds").
As announced on 1 April 2019, the company entered into an agreement with a new investor for the subscription and issue of Convertible Bonds for USD 10 million. The investor has now increased their subscription to USD 15 million.
The date at which Chaarat expects to receive the subscription proceeds from the investor for the Convertible Bonds has been delayed beyond 31 May 2019. Receipt of the proceeds is now expected to take place by the end of June.
Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company with an initial focus on Central Asia and the FSU through organic growth and selective M&A.
Chaarat is engaged in active community engagement programmes to optimise the value of the Chaarat investment proposition.
Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com.
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