Video security firm Servision Plc (LON:SEV) has drawn down US$551,846 net from its loan deal with Yorkville for working capital, alongside announcing it had increased the amount it can draw down on the facility to £3mln from £1mln previously.
In addition, the SEDA was amended to extend the commitment period by one year to 2017, the firm said. As of today, £55,252.95 is outstanding under the loan deal which is being re-paid from the net proceeds.
Servision must pay 11 equal monthly instalments of US$40,200 to pay off the principal amount along with accrued interest, with the remaining balance payable on July 6, 2017, it said.
In other news, the directors of Ceres Power Holdings PLC (LON:CWR) have elected to adopt FRS 101 Reduced Disclosure Framework for the company's financial statements. The disclosures in the company's financial statements prepared under FRS 101 are expected to be the same or follow closely those previously reported under UK generally accepted accounting principles.
Over at Savannah Petroleum PLC (LON:SAVP) shares shot up as it told investors it had successfully brought in US$40mln in an over-subscribed placing to help it develop its promising oil assets in Niger and as trading in its shares was restored.
Andrew Knott, chief executive, said today: "This fund raise was oversubscribed and has been extremely well supported by both existing and new shareholders who we thank, as well as by the management team.
Meanwhile, TomCo Energy Plc (LON:TOM ) told investors it has secured an extension to a construction permit for the Holiday Block oil shale project, in Utah.
The permit has been extended to July 2020, the company revealed. And, as a result, it now has the same term as the project’s existing ground water discharge permit.
Over at Deltex Medical Group plc (LON:DEMG) it told investors it has made important progress in the first half of the year towards its primary objective, which is to surpass cash break even.
In an update ahead of the release of interim results, for the six months ended June 30, the company highlighted that its expansion in the United States remain on track and that revenues from probe sales had increased by 40% to £900,000.
Elsewhere, Kibo Mining PLC (LON:KIBO) has completed the mining definitive feasibility study of the Mbeya coal-to-power project (MCPP) in Tanzania.
Results from the MDFS correlate accurately with those of the mining pre-feasibility study announced in August of last year, and have reconfirmed the Mbeya coal mine as a robust project with strong financial and commercial indicators, the company said.
SolGold plc (LON:SOLG) is set to receive up to US$20mln in investment from Maxit Capital, via a private placing to continue exploration at its Cascabel property in Ecuador.
Maxit agreed to subscribe for up to 238.47mln shares, or a maximum of 19.99% of the capital.
And finally, Rare Earth Minerals’ PLC (LON:REM) revealed its associate Macarthur Minerals Limited had expanded the scope of its lithium rights in the famous Pilbara region of Western Australia.
The MoU (memorandum of understanding) for a farm-in and joint venture with Venturex Resources has been expanded to include rights for the 124 sq km Whim Creek project as well as the 118 sq km Sulphur Springs project.