5th Feb 2021 10:44
Chaarat Gold Holdings Ltd - London-based gold miner focused on Armenia and Kyrgyz Republic - Announces a fundraise for around USD25 million via the issuance of shares at 26 pence each. Says USD23.5 million has been committed through subscriptions, representing 65.9 million shares, and USD1.4 million in non-binding commitments. Says the funds received will represent the remainder of the upfront equity portion to fund the Tulkubash project in the Kyrgyz Republic, with a total of around USD110 million needed. Says it is also in ongoing discussions on debt financing of approximately USD80 million and anticipates having this completed in the first half of this year. Says Labro Investments Ltd, the company's largest shareholder, has agreed to a debt-to-equity conversion of approximately USD22 million, extinguishing the current loan of the same amount with Labro.
Current stock price: 26.40 pence each for GBP142.6 million market capitalisation
Year-to-date change: up 15%
By Greg Roxburgh; [email protected]
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