LONDON (Alliance News) - Digital media and technology firm Milestone Group PLC said on Tuesday it has raised a total of GBP250,000 through the issue of shares and a convertible loan note.
Milestone is issuing 96.7 million shares at a price of 0.15 pence each to raise GBP145,000 in cash, and is settling an existing creditor balance of GBP30,000 by issuing 20.0 million further shares.
It has also raised GBP105,000 via an unsecured convertible loan note, which will convert into 70.0 million shares at the same price of 0.15p.
Milestone also has issued warrants to the subscription share and loan note holders of one warrant per share, exercisable at a price of 0.25p until March 19 next year.
Milestone shares were up 8.9% on Tuesday at 0.12p.
