Macarthur Minerals (ASX:MIO) said it will raise AU$250,000 through the issue of unsecured convertible notes to a sophisticated investor, according to a Tuesday filing with the Australian bourse.
The notes, which carry a 10% annual interest, mature in 12 months and are convertible at AU$0.015 per share at the investor's election.
Shares of the company fell 5% at market close.
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