28th Nov 2018 12:38
LONDON (Alliance News) - Chaarat Gold Holdings Ltd said Wednesday it will raise USD1 million via the issue of convertible loan notes to two investors, to support its acquisition of a mine from Polymetal International PLC.
The AIM-listed exploration and development company with assets in the Kyrgyz Republic has entered into agreements with two unnamed investors for the subscription and issue of secured convertible notes due 2021 worth USD600,000 and USD400,000, respectively.
Proceeds from the notes issue will be used by Chaarat for its plan to build an emerging markets gold company with an initial focus on central Asia and Kyrgyz Republic and to support the Kapan mine acquisition announced in October. The company is buying the Kapan polymetallic mine located in Armenia from Polymetal for USD55 million.
Shares in Chaarat are suspended from trading, pending the publication of an admission document in relation to the acquisition of Kapan mine.
Related Shares:
CGH.LPOLY.L