4th Oct 2023 14:17
PYX Resources Ltd - Sydney-based, Indonesia-focused zircon and mineral sands producer - Says that an application for the quotation of additional securities has been issued on the NSX. On Tuesday, PYX announced a GBP20 million investment commitment through a subscription agreement with GEM Global Yield LLC SCS, an alternative investment firm with offices in Paris, New York, and the Bahamas. Under the deal, PYX controls the amount and timing of investment over a 36-month period with no minimum subscription obligation. A fee of GBP400,000 is also payable to GGY in cash or shares within a period of 12 months.
Accordingly, PYX issues and allots 1.8 million shares of no-par value to GGY.
Current stock price: 22.90 pence, up 2.9% on Wednesday
12-month change: down 58%
By Holly Beveridge, Alliance News reporter
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