Kodal Minerals Coverts Part Of USD1.5 Million Loan Into Shares

Tue, 16th Feb 2021 10:42

(Alliance News) - Kodal Minerals PLC on Tuesday said it has received a conversion notice in relation to its USD1.5 million unsecured convertible loan agreement with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd.

The lithium-focussed development and exploration company said it will convert USD169,385, made up of a principal amount of USD150,000 and accrued interest of USD19,385, into 153.4 million new shares at a price of 0.08 pence each.

The stock was trading 5.5% lower in London on Tuesday at 0.1p a share.

Following the admission Kodal said it will have 12.34 billion shares overall.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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