26th Feb 2019 13:21
LONDON (Alliance News) - Herencia Resources PLC said Tuesday that it has secured USD300,000 from two shareholders subject to certain conditions.
The company also said that its ordinary shares have been suspended with immediate effect pending clarification of its financial condition.
The Australian Special Opportunity Fund and Oriental Darius Co Ltd have each agreed to provide USD150,000 subject to certain pre-conditions which are highly unlikely to be achieved and requires approval by the company's nominated adviser WH Ireland pursuant to AIM stock market rules.
The multi-commodity resources company therefore said there can be no guarantee over progress in the transaction.
Herencia Resources warned that its working capital position is severely constrained and if the financing agreements are not approved and if no further source of funds can be found, it is unlikely that the company will be able to continue to trade.
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Herencia Resources