Business
Allotment of Shares in Calidus Resources
Allotment of Shares in Calidus Resources.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9059H Keras Resources PLC 13 June 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n13 June 2017\nKeras Resources plc ('Keras' or 'the Company')\nAllotment of Shares in Calidus Resources\nRepayment of Acquisition Finance Facility\nIssue of new Ordinary Shares \n \nKeras Resources plc, the AIM listed mineral resource company is pleased to advise that shares in Calidus Resources Limited ('Calidus'), the entity through which the Company's Australian gold assets are being listed on the Australian Securities Exchange (\"ASX\") have now been allotted. As a result, the Company has transferred its shares in Keras (Gold) Australia (Pty) Ltd to Calidus and Mr David Reeves and Mr Peter Hepburn-Brown have now been appointed to the board of Calidus.\n \nIn addition, repayment of the secured Acquisition Finance Facility (the \"Facility\") with a consortium of investors arranged by Riverfort Global Capital Ltd (the \"Investors\") as originally announced on 12 September 2016 has been completed. The Facility was originally drawn down in October 2016 and utilised to fund the Company's acquisition of the Warrawoona gold projects and subsequent exploration work.\n \nBased on the repayment date of 9 June 2017, the amount owing to the Investors is US$2,448,972.60. Of this, US$2,200,000 is being repaid by Calidus from proceeds of its recently completed ASX Capital Raising, as announced by the Company on 5 June 2017, and the balance of US$248,972.60 (£192,412.85) is being settled via the issue of ordinary shares of 0.1p each (\"Ordinary Shares\") in Keras (the \"Facility Shares\"). The share price for determining the number of Facility Shares to be issued is 0.352 pence based on a 5% discount to the 5 day Value Weighted Average Price prior to the extension being signed on 20 March 2017, as such 54,666,623 Facility Shares are being issued to the Investors. In addition, the 59,542,743 warrants granted to the Investor as part of the Facility have been repriced at 0.46p.\n \nThe Company is also settling certain other creditors by the issue of Ordinary Shares, resulting in the issue of a further 59,605,543 Ordinary Shares at a price of 0.38 pence[1], a 5% discount to the 5 day VWAP prior to 9 June 2017 (the \"New Ordinary Shares\"). The payments cover a total of £226,671 of third party credit...