Wishbone Gold, the precious metals trading and exploration company, has announced the issue of 207,297,514 new ordinary shares as a result of the conversion to equity of 63% of the outstanding loan with Sanderson Capital Partners. This results in the conversion of £258,500 of the outstanding total Sanderson loan of £407,141 at a price of 0.1247 pence per Ordinary Share. The conversion price is determined by the 30 day moving average of the company's share price as determined under the loan agreement. Sanderson has agreed that it will not sell any of the Ordinary Shares without the permission of Wishbone. Sanderson's intention is to strengthen Wishbone's balance sheet and demonstrate support for the company's strategy. At 9:08am: (LON:WSBN) Wishbone Gold PLC share price was +0.02p at 0.19p
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.