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Mkango Resources Ltd - Vancouver-based mineral exploration and development company - Says CoTec Holdings Corp has agreed a further GBP500,000 investment through a convertible advance note. The advance is to be completed by Thursday next week. CoTec had in June provided Mkango with a GBP500,000 initial advance. Mkango also has agreed to extend CoTec's exclusivity period to November 30. CoTec may extend exclusivity to the end of December, by completing a GBP2 million convertible note to Mkango by October 15. The value of the two advances will be off-set against the convertible note.
Current stock price: 12.07 pence, up 2.7% in London on Wednesday
12-month change: down 52%
By Sophie Rose; sophierose@alliancenews.com
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