The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Great RNS, and the SP is up.
It will be the Templeton Foundation...
DXB
Correct mon ami - I lived and worked in Bahamas for a short period and my main home and kids/grandkids is/are in Guernsey.
GL
IKing, ‘Institutional Family-Office Investor based in The Bahamas’ - based is the key word. Not necessarily Bahamian. Could be any nationality/flag. Lots of wealthy peeps hiding behind the walls of Lyford Cay.
N.B.
This is not the CLN this is additional funds from a separate source @ 0 coupon.
CLN is still available
BUT this is much cheaper and Bahamian backing (albeit that could mean anything .)
Amazing.
2 wells funded?
Need time to fully digest but looks like we go alone or indeed now completely turns screw on MAJORs.
I can now see a MAJOR bidding war!
GL
XXX
"At the same time, we continue to consider several farm-in options, with a view to further strategically enhancing the overall financial and operating capacity of the Company."
"Critically, with this Facility and the Conditional Convertible Loan Note, shareholders can take greater comfort that the well can be delivered if we were to 'go it alone', or if we were to choose to drill with a partner. The next few months will thus continue to be both a busy and exciting time for our Company. "
"In aggregate, therefore, the above elements (including the Conditional Convertible Notes, if fully drawn, and today's Facility, if fully drawn) would see total funding availability of approximately $36 million"
"The directors consider that the proceeds of the Facility together with the Company's existing access to financial resources will provide sufficient working capital for its currently anticipated requirements for at least the next 12 months. "
"provision for additional, optional casing strings …... and the possibility for an expanded data gathering, logging and sampling program (if merited by positive real-time drilling results)"
Excellent RNS, fully funded, allows for contingency's. Farm out offers being considered is implied.
Rns release