Herencia Resources Secures USD300,000 Funding From Shareholders (ALLISS)

3rd Apr 2018 13:23

LONDON (Alliance News) - Herencia Resources PLC said Tuesday it has agreed a loan totalling USD300,000 from its two biggest shareholders.

Australian Special Opportunity Fund and Oriental Darius Co Ltd will both provide USD150,000 each in a secured convertible note facility which will be repaid over 12 months.

If Herencia's share price remains at 0.043 pence per share it will issue on conversion of the facility 541.2 million shares.

Shares in the company were down 2.4% on Tuesday afternoon at 0.0415p.

Australian Special Opportunity currently holds just under 24% of Herencia, and Oriental Darius has an interest slightly over 22%.

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