Wishbone Gold PLC (LON:WSBN) and D-Beta One have modified the equity sharing agreement announced on 18 August 2017.
D-Beta One is leading a syndicate that had pledged to subscribe for 114.3mln Wishbone shares at 0.7p a throw; it has agreed with Wishbone to double the number of remaining monthly payments from 10 to 20, which will have the effect of reducing the volume of shares that D-Beta One will trade in any given period.
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The proceeds of each monthly payment will be dividing equally between Wishbone and paying off the balance of Wishbone’s investment agreement with YA II PN.
Shares in Wishbone rose 8.2% to 0.595p in the first hour of trading.