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Chaarat Gold raises US$350,000 via subscription of secured 2021 convertible loan notes by an unnamed investor

Published: 12:00 21 Dec 2018 EST

Cash raising
Chaarat said the notes are expected to be issued in early January 2019 following receipt of payment

Chaarat Gold Holdings Limited (LON:CGH) has raised US$350,000 after entering into an agreement with an unnamed investor for the subscription and issue of secured convertible loan notes exercisable in 2021. 

The AIM-quoted exploration and development company with assets in the Kyrgyz Republic said the notes are expected to be issued in early January 2019 following receipt of payment.

READ: Chaarat Gold to raise up to US$100mln to help fund acquisition of producing polymetallic mine

The group added that the 2021 notes are on the same terms as those issued on 11 September 2018, announced on 28 August, with a conversion price of 37p and a 10% interest rate per year which increases to 12% for the final 18 months.

It said the issue of the additional notes will bring the total number of loan notes in the issue to US$18.93mln.

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