IN BRIEF: URU Metals extends convertible loan repayment date
3rd Jan 2025 10:28
Uru Metals Ltd - developer of Zeb nickel project in South Africa - Extends maturity date to May 31, 2025, for convertible loan from Boothbay Absolute Return Strategies LP. Says Boothbay has agreed not to convert sums due under convertible loan note into shares ahead of March 1. Loan value sits at USD500,000 as at December 31 and URU notes the maturity date has been extended on a number of occasions. URU says the CLN, unless repaid, will convert at or prior to the maturity date, with the conversion subject to several conditions. Adds that if Boothbay converts the loan into new ordinary shares it will receive one attached warrant per share with an 18-month exercise period and price of GBP0.85 per share. Read More