G79 0.00% 2.7¢ goldoz limited

Ann: Mustang Secures $8.5m Mezzanine Finance from Major Investor, page-3

  1. 7,826 Posts.
    lightbulb Created with Sketch. 4
    MUSTANG SECURES $8.5M FUNDING PACKAGE FROM LEADING INSTITUTIONAL INVESTOR Convertible note means Mustang is fully-funded through to first ruby sale in October minimising dilution for shareholders Highlights  Arena Investors LP, a major US institutional investor with more than US$600m in assets under management, commits to invest net A$8.5m in Mustang under a convertible note facility  Funds to be drawn down in four tranches with the first tranche of $1.7m (subject to conversion restrictions) to be received on signing the convertible note deed  Balance will be available in three further draw-downs of A$1.7m, $2.55m & $2.55m over 18 months, subject to shareholder approval  Funding arrangement ensures that Mustang is fully-financed through to its first rough ruby tender of 200,000cts planned for October 2017  Current ruby inventory of ~132,000 cts, with ongoing recovery of high quality rubies from the recently upgraded processing plant and ongoing artisanal development program
 
watchlist Created with Sketch. Add G79 (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.