14th Aug 2018 17:31
LONDON (Alliance News) - Eurasia Mining PLC said Tuesday it has received notice of exercise of warrants for 109.2 million shares in the company by convertible loan note holder YA II PN Ltd.
Shares in Eurasia Mining closed down 20% Tuesday at 0.55 pence each.
Eurasia, in December last year, entered into an amendment to the USD1.3 million facility arranged by Riverfort Global Capital Ltd.
As part of that amendment to extend the term of the loan, Eurasia agreed to issue YA II PN 109.2 million warrants for shares at a price of 0.34p each for GBP371,000.
Application has been filed for the new shares to be admitted to AIM Monday next week.
Following the admission Eurasia will have 2.23 billion shares overall.
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