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Rambler Completes Equity Raising, Note Financing And Loan Conversions

Tue, 08th Dec 2020 14:07

(Alliance News) - Rambler Metals & Mining PLC on Tuesday said its equity raising, note financing and loan conversions have now all been completed following a delay related to the note financing transaction.

The UK-based mining and development company said that all loan notes, valued at USD7.9 million, have now been converted into shares at 0.1 pence per share.

Rambler also converted bridging loans of USD1 million and USD830,000 from CE Mining III Rambler Ltd and Aether Real Assets Co-Investment I LP into shares.

Additionally, Rambler said it has entered into a final agreement for a USD5 million loan from Toronto-based institutional investor West Face Capital Inc.

Shares in Rambler were down 7.4% at 0.25 pence in London on Tuesday.

By Zoe Wickens; zoewickens@alliancenews.com

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