Last checked at 20 Nov 2017 07:00
20 November 2017
Wishbone Gold Plc
("Wishbone Gold" or the "Company")
Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources
Update on the Equity Sharing Agreement
Wishbone Gold Plc and D-Beta One EQ, Ltd announce that they have today modified the Equity Sharing Agreement announced on 18 August 2017 (the "Announcement") in the following manner:
1. The parties have agreed to double the remaining Monthly Payments from 10 to 20. This has the effect of reducing the volume of shares, which D-Beta One EQ, Ltd will trade in any given period.
2. The proceeds of each Monthly Payment will be divided as to 50% payable to the Company and 50% allocated to the reduction of the balance of Wishbone's Investment Agreement from YA II PN Ltd.
Item 2 above will be applied retroactively to the October Monthly Payment and item 1 and item 2 will be applied to each month going forward.
The Company can confirm that $32,832.36 is due to the Company from D-Beta One EQ Ltd under the Equity Sharing Agreement for October2017. Half of this amount has been allocated by D-Beta One EQ Ltd towards the outstanding balance of the Investment Agreement with YA II PN Ltd as to $12,673.66 towards loan repayment and $3,742.52 towards interest on the loan. As per the revised agreement $16,416.18 will be paid to the Company.
Henceforth Wishbone will report the outcome of the Swap trades and payments on a quarterly basis.
For more information on Wishbone Gold please visit the Company's website www.wishbonegold.com.
All defined terms are as used in the Announcement.
Enquiries:
Wishbone Gold Plc
Richard Poulden, CEO Tel: +44 207 812 0645
Allenby Capital
Nick Naylor / Nick Harriss Tel: +44 20 3328 5656
Beaufort Securities Limited
Elliot Hance Tel: +44 20 7382 8300
Damson Communications
Abigail Stuart-Menteth / Amelia Hubert Tel: +44 207 812 0645