RE: GEX4 Nov 2025 13:17
Wow..... guy is crafty, first £300k at 8p, but with 40% warrants at 8p, offers 5.25m shares averaging 5.7p, while converting at 8p offers a handsome profit.... but still a premium , and investor will be interested in pumping at some point,.....
But the guy is still short of drilling funds, yet wants to create the vision of an II believing 8p is near term
Placing
Georgina Energy Plc is pleased to announce a placing of £200,000 through the issue of 4,000,000 new ordinary shares at a placing price of 5p to an Institutional Investor.
Debt Facility
The Company has also entered a debt facility with the same Institutional Investor of up to £1,000,000. The Company will initially draw down £300,000 (the "First Drawdown") with any further amounts to be agreed between the Company and the Institutional Investor.
The Facility has a term of 3 years, and each drawdown of the debt has a term of 12 months. The First Drawdown will be convertible at 8 pence per share ("Reference Price") and each drawdown thereafter at a 50% premium to the 5-day VWAP preceding the drawdown. There is no interest to be applied to the loan.
Issue of Warrants
The Investor shall receive Warrants equal to 40% of each drawdown divided by the Reference Price, exercisable at a 50% premium to the relevant Reference Price. Each issuance of Warrants will have a 48-month term from the date of issuance (which may be offset against outstanding debt if exercised). The First Drawdown warrants will be exercisable at 8 pence.