Mosman Oil and Gas said it had attained a 9% stake in Canadian diamond explorer GEM International Resources, having captailised part of a loan to the company. Mosman capitalised C$50k as part of a debt-for-equity swap, while a remaining loan of around C$50k had been repaid to Mosman by GEM. Mosman also confirmed that GEM had raised new capital by issuing 8m shares at 5c per share. GEM had also undertaken a debt-for-equity swap for about C$271k. 'GEM will now continue with its objective of securing an interest in a new project,' Mosman Oil and Gas said. At 8:26am: (LON:MSMN) Mosman Oil And Gas Ltd share price was +0.01p at 0.22p
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