LONDON - Panthera Resources Plc (AIM: PAT), a gold exploration and development company operating in West Africa and India, announced today the conversion of US$125,000 worth of unsecured convertible loan notes (CLNs) along with accrued interest. The conversion prompts the issuance of 1,777,948 new ordinary shares, each valued at 1 pence.
The conversion terms were initially detailed in a company announcement on November 12, 2024. Post-conversion, an equivalent amount of US$125,000 in unsecured convertible loan notes will remain outstanding.
The company has applied for the new ordinary shares to be admitted to trading on the Alternative Investment Market (AIM) of the London Stock Exchange (LON:LSEG). Trading is expected to commence at 8.00 a.m. on or around January 16, 2025.
Following the admission, Panthera's issued share capital will rise to 198,101,247 ordinary shares, with the company holding none in treasury. This total share count will serve as a reference for shareholders for any necessary notifications of shareholding changes as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
This conversion notice and subsequent share issuance come as Panthera continues its exploration and development activities. The forward-looking statements included in the company's announcement reflect Panthera's expectations and estimates regarding its future operations. However, these statements involve risks and uncertainties, including those typically associated with the mining industry, such as variations in ore grades, recovery rates, accidents, labor disputes, and delays in governmental approvals.
Investors are cautioned that such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from those anticipated in these statements.
The information in this article is based on a press release statement from Panthera Resources Plc.
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