Chaarat Gold Holdings Limited (LON:CGH) has secured a further US$1mln in funding from two of its investors for use in the building of an emerging markets gold company.
The AIM-listed exploration firm said it had entered agreements with the two investors for the subscription and issue of secured convertible notes for US$600,000 and US$400,000 respectively.
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The funds would be used in the company’s attempt to build an emerging markets gold company with an initial focus on Central Asia and the former Soviet Union countries, while also supporting its acquisition of the Kapan mine in Armenia at the end of October.
The extra US$1mln will be added to the US$10mln funding secured by Chaarat in mid-November from a previous note holder.
Chaarat’s shares are currently suspended.