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Wishbone Gold raises £567,000 to end stand-by facility

Shares were placed at 0.1p to raise the cash, with subscribers also receiving a warrant exercisable at the issue price
gold and dollars
D-Beta will have no interest in the company going forward

Wishbone Gold PLC (LON:WSBN) has raised £567,000 through a placing to pay off its equity stand-by facility with financier D-Beta.

The agreement was set up in August 2017 and ending the arrangement will see Wishbone pay about £120,000 owed and a final settlement payment of £274,000.

READ: Wishbone Gold hampered by Honduras permit delays, eyes expansion into Zimbabwe

Shares were placed at 0.1p to raise the cash, with subscribers also receiving a warrant exercisable at the issue price.

In addition, directors have agreed to receive shares in lieu of £233,000 fees and expenses owed up until September 2018 at a price of 0.11p per share.

Chairman Richard Poulden’s stake is now 28.1% with other directors owning 5.1% between them.

Wishbone trades gold and supplies equipment and know-how to artisanal miners in Thailand.

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Wishbone Gold PLC Timeline

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