(Alliance News) - Kodal Minerals PLC on Wednesday said Gibraltar-based investor Riverfort Global Opportunities PCC Ltd and New Jersey, US-based investor YA II PN Ltd have elected to convert part of USD1.5 million loan facility into Kodal shares.
The mineral exploration & development company focused on Mali said it converted a total of USD150,810 into 176.2 million shares at a price of 0.06340 pence per share. The shares will be admitted to trading on AIM on or around January 5, 2021, the company said.
The loan conversion will allow for the continued development of its flagship Bougouni lithium project in Mali, and its gold projects in Mali and the Ivory Coast, Kodal added.
Kodal shares were down 5.5% at 0.10p in London on Wednesday.
By Zoe Wickens; zoewickens@alliancenews.com
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Kodal Minerals (KOD)