RE: H1, 2024 before the next update. That’s 4-9 months away.4 Sep 2023 08:07
Worked out fine for Kodal
The funding proposal is for a 24-month secured convertible loan note (CLN) with no repayments before 18 months, and a 10% per year interest, rolled up and payable on maturity, and an implementation fee of 5% of each tranche advanced.
Riverfort has the right, but not the obligation, to convert all or part of any outstanding balance of the CLN, up to a maximum of US$1.25mln for a 20% stake in Kodal's gold assets.