IN BRIEF: Tungsten West launches open offer; raises through loan notes
19th May 2023 11:50
Tungsten West PLC - mining company focussed on restarting production at Hemerdon - Raises a total of up to GBP7.0 million from convertible loan notes, at 20% interest. Consists of two tranches of GBP4.0 million and GBP3.0 million respectively. Says the notes convertible into shares are at the lesser of 3 pence per share, or a 50% price of an equity raise. Additionally, launches an open offer of shares to raise up to GBP2.0 million through at 3p eac. Says after the open offer, up to 66.7 million shares will be offered on basis of 1 new share offered for each 2.7 shares held. Read More