MetalNRG PLC - London-based natural resources and energy-focused investor - Raises GBP223,000 via issue of convertible loan notes carrying a 15% annual coupon and convertible upon the earlier of the company completing a reverse takeover or two years from today. Says the proceeds raised through the issue, alongside an additional unsecured short-term loan of GBP150,000, will be used to undertake specific due diligence work on projects identified as potential reverse takeover targets and for general corporate purposes.
Current stock price: 0.050 pence, down 8.7%
12-month change: down 28%
By Greg Rosenvinge, Alliance News senior reporter
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Metalnrg Plc (MNRG)