2nd Oct 2015 11:45
LONDON (Alliance News) - Rare Earth Minerals PLC on Friday said it has entered into a new financing deal with the YA Global Master Fund SPV Ltd, which closes out its existing equity swap deal with the vehicle.
Rare Earth said under the new agreement, it will receive a GBP1.3 million final cash payment from YA Global Master and the provisions under the original agreement will be terminated.
The final payment will be made in lieu of any future payments under the equity swap deal.
Shares in Rare Earth were up 1.8% at 1.04 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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