Bezant Resources PLC - copper and gold explorer and developer - Agrees to extend the repayment date for the GBP700,000 drawn down under the unsecured convertible loan funding facility entered into with Sanderson Capital on November 22 2021. This will now be repayable by December 23 2024 and convertible at the fixed price of 0.08 pence per share. Pays a loan extension fee via a GBP70,000 payment to be settled by issue of 87.5 million shares at the new conversion price and the issue of 437.5 million warrants over shares exercisable at 0.12 pence per share.
Colin Bird, Executive Chair says: "We are pleased that Sanderson have repriced the convertible allowing the company to advance all its technical and financial activities for the company, particularly the Hope and Gorob project, which continues to show much more potential than previously envisaged."
Current stock price: 0.04 pence
12-month change: down 71%
By Jeremy Cutler, Alliance News reporter
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Bezant Res (BZT)