6th May 2014 16:33
LONDON (Alliance News) - Eurasia Mining PLC Tuesday said that it has secured a GBP1 million five-year equity financing facility with Darwin Strategic Ltd.
The mineral exploration company said that its equity financing facility agreement with Darwin provides Eurasia with a facility of up to GBP1 million, which can be drawn down at any time over the next five years.
Eurasia said that in conjunction with the equity financing facility, it has entered into a Warrant Agreement with Darwin, pursuant to which Darwin can subscribe for up to 12,068,358 shares, at 0.63 pence at any time prior to the expiry of 60 months from the date of the warrant agreement.
Eurasia also released a separate statement Tuesday, with its financial results for 2013.
In 2013, the group reported a pretax loss of GBP750,339, compared with a pretax loss of GBP1.4 million in 2012. It said that revenues for the year fell to GBP16,355, down from GBP62,223.
Eurasia Mining shares closed 8% higher Tuesday at 0.540 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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