leadf
logo-loader
viewEurasia Mining PLC
(
AIM:EUAFRA:EUH
)

Eurasia Mining debt-free as it converts remaining loan to shares

Eurasia said it is now debt-free and financially stronger following the final debt to equity switch

mine
The new shares were placed with Optiva's clients

Eurasia Mining PLC (LON:EUA) told investors that it has made the final settlement of its remaining loan facility, by issuing new equity.

It has concurrently appointed Optiva Securities as its new joint broker and has placed newly issued shares to the broker’s clients.

READ: Eurasia Mining on track as it advances West Kytlim and Monchetundra

In a statement the company said it had received a conversion notice from the YA II PN Ltd fund, the lender via the loan facility, requesting the conversion of US$522,097.17, which was to be paid with 117.9mln new shares priced at 0.34p each.

The company was also notified that YA agreed to place the new shares through Optiva.

"This transaction completes the agreement with and the company's obligations to YA, who do not hold any further warrants or options,” said Christian Schaffalitzky,

“The company is now debt free and having foregone repayment is in a stronger position financially.”

Schaffalitzky added: “Eurasia is pleased to start working with Optiva in realising the Company's long-term growth potential and business goals.

“Optiva's estimation of the Company's growth potential is well demonstrated with this transaction.

“We look forward to updating the market on our progress at the operational level, including ongoing production at our West Kytlim platinum and gold mine very shortly."

Quick facts: Eurasia Mining PLC

Follow
AIM:EUA

Price: 22.68 GBX

Market Cap: £637.76 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE 100 gets September off to a strong start

FTSE 100 got September off to a strong start as investors awoke from their summer slumber. London’s blue-chip index rose 53 to 7,172 in early dealings. Nationwide’s latest house price survey showed the average price of a UK is now around £248,800, up 11% year on year. Prices are now 13%...

2 weeks, 6 days ago

2 min read