Mongolia-focused mining junior Kincora (CVE:KCC) announced it was to settle interest on a convertible loan, now renegotiated, by issuing shares.
The C$2.5mln convertible loan from fund Origo Partners (LON:OPP), was issued in July 2012.
Last month, Kincora revealed the note would be rolled over after it had been due for repayment in July of this year.
It was remediated to become due and payable on October 21, 2016 with interest at 8.7% a year.
Kincora said it planned to settle interest on the period from July 20 last year to July 19 this amounting to C$ $217,500 through issuing 4.35mln shares at C$0.05 each