Native Mineral Resources Secures Nearly AU$4 Million Convertible Funding; Shares Fall 4%
MT Newswires Live
May 06
Native Mineral Resources Holdings (ASX:NMR) has entered into a second convertible security funding agreement with Lind Global Fund III, raising AU$3.5 million in net proceeds in exchange for a AU$3.9 million face value convertible security, according to a Wednesday Australian bourse filing.
The net funding, after costs and a AU$1.1 million repayment of an existing convertible note, is currently held by the company pending the issue of the security, the filing said.
The facility provides the company with flexible access to capital to support its near-term objectives, the filing added.
The company's shares fell 4% in recent Wednesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.