Native Mineral Resources Secures AU$3.5 Million Convertible Security Funding From Lind Global

MT Newswires Live
Jul 02

Native Mineral Resources (ASX:NMR) has entered into a third convertible security funding agreement with Lind Global Fund III LP, providing the company with funding of AU$3.5 million in exchange for a convertible security with a face value of AU$4.2 million, according to a Thursday Australian bourse filing.

The company said the facility has a 24-month maturity date and includes a 120-day repayment holiday, with the convertible security convertible at a fixed conversion price of AU$0.066 per share.

The facility will be repaid through monthly repayments of AU$210,000, which may be satisfied in cash or shares, with NMR able to request a further investment of up to AU$4 million during the following 12 months, subject to shareholder approval, market capitalisation milestones, and investor approval, the filing added.

Proceeds will be used for working capital, debt management, and advancement of the company's growth strategy, it added.

The company's shares rose 2% in recent Thursday 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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10