07
Jun
05:49
Cyclone Metals inks deal for loan facility conversion
Australian miner Cyclone Metals has secured a deal to convert its debt to equity, Kallanish notes.
The firm previously entered into loan agreements with European Lithium and was advanced funds totalling AUD 2.25 million ($1.5m).
The company advises that the parties have agreed that the principal amount of AUD 2.25m plus accrued interest will be converted into equity based on a share conversion price of AUD $0.002.
All other terms and conditions of th…
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