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Wishbone Gold agrees new institutional funding deals

“This is the first stage in an overall funding relationship with RiverFort that can lead to the funding of new deals at the project level,” said Richard Poulden, Wishbone chairman.
Gold bars and US dollars
The deal is expected to fund Wishbone's projects

Wishbone Gold PLC (LON:WSBN) told investors it had agreed a new funding deal with institutional investors, arranged by RiverFort Global Capital.

It sees new shares being issued at a price of 0.7p each.

WATCH: Honduras expansion plans on track for Wishbone Gold following new funding deal

The arrangement comprises a £800,000 share subscription and a separate equity sharing agreement. Up to US$2mln of investment potentially comes from YA II PN Ltd, arranged by RiverFort, with an initial drawdown of US$400,000. Share warrants were also issued as part of the new arrangement.

“This is the first stage in an overall funding relationship with RiverFort that can lead to the funding of new deals at the project level,” said Richard Poulden, Wishbone chairman.

Graham Sterling, RiverFort chief investment officer, meanwhile, added: “This innovative financing structure offered to Wishbone Gold by RiverFort will allow them to build on their solid progress to date.

“RiverFort believes in the future potential of Wishbone Gold and this funding is an integral part of assisting them in achieving this potential.

“It underlines our faith in Wishbone Gold's Board's ability to execute on their strategy."

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Wishbone Gold PLC Timeline

Newswire
February 12 2018

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