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IN BRIEF: Tower Resources Gets Extension To USD750,000 Loan

Wed, 01st Jul 2020 19:49

Tower Resources PLC - oil & gas company focused on Africa - Secures extension to USD750,000 loan facility. Facility will now be due for repayment on or before August 15 and the terms of the extension include the issue of 4.5 million of five-year warrants with a strike price of 0.35 pence, being a premium of 11% to the closing price on Tuesday. Loan also contain a grace period of 21 working days in the event of any further modest delay.

Current stock price: 0.32 pence

Year-to-date change: down 20%

By Tapan Panchal; tapanpanchal@alliancenews.com

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