RE: £35 million loss, £10m in bank, What price discounted raisecounted RaAise23 Jul 2023 21:47
Discounted raise after Craig has just stated the following, find that hard to believe.
Bushveld and Primorus have agreed in principle to vary the terms of repayment such that Bushveld will make the repayment in cash as opposed to shares on the following terms:
· An initial payment of USD$150,000, followed by bi-weekly payments of USD$125,000 to Primorus, with the final payment to be made prior to the 30 November 2023.
· During the repayment period, the outstanding balance shall bear interest at the annual rate of 10%.
Following this agreement, there are no further outstanding BCLNs.
Craig Coltman commented: "We are pleased to have reached an amicable agreement for the repayment of
these convertible loan notes. The revised arrangements mean that the Company will not suffer dilution at these
low levels. I will update the market on the Company's performance and prospects at the forthcoming Q2
operational update."