Red Mountain Mining Ltd (ASX:RMX) has repaid in full the outstanding convertible securities held by the Australian Special Opportunity Fund, LP, managed by The Lind Partners, LLC.
The Lind is a New York based institutional investor.
Red Mountain has now repaid the full face value of the convertible securities of $350,000 and issued 58,888,889 Listed Options exercisable at $0.0015 on or before 31 March 2018.
Jon Dugdale, managing director for Red Mountain, commented:
“This funding facility worked well for us and we are pleased to have now repaid the convertible securities, and to be debt free once again.
“The company is now looking forward to receiving the US$1.2 million owed to us by strategic funding partner Bluebird Merchant Ventures, following their London listing, expected before the end of March.”
Red Mountain is focused on the Batangas Gold Project in the Philippines.
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