Minbos Resources (ASX: MNB) is close to securing additional working capital, with the company expecting to shortly complete financing arrangements with a group of sophisticated investors.
The investors would provide $250,000 in secured funding through the issue of convertible notes, which would fund the company working capital as it works on longer term funding solutions.
Minbos also said that it expects to shortly finalise the provision of general security and variations to the repayment dates and structure of the existing convertible note facilities.
Minbos is focused on phosphate ore within the Cabinda Province of Angola and the adjoining areas of the far western DRC.
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