Business
Correction - Signing of Loan Facility
Correction - Signing of Loan Facility.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \nRNS Number : 2998A Wishbone Gold PLC 06 June 2016 \n\n \n \n \n \n \nThe following amendments have been made to the 'Signing of Loan Facility' announcement released today at 7:00 a.m. under RNS No 2432A.\n \nThe number of Commitment Fee Shares to be issued was stated as 3,826,611. This figure should have been 38,657,037. Furthermore, the Company's total issued share capital on Admission was stated as 1,003,816,975 Ordinary Shares, which should have been 1,038,647,401.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \n6th June 2016\n \nWishbone Gold Plc\nWishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources\nWishbone Gold PLC (\"Wishbone Gold\" or the \"Company\")\nSigning of Loan Facility\n \n \nWishbone Gold Plc, the precious metals trading and exploration company, announces that it has agreed a two-year loan facility of US$3m from Sanderson Capital Partners (the \"Facility\") to support its gold trading business and for general working capital.\n \nThe terms of the Facility are that it can be drawn in multiples of US $100,000 at any time during the period of the facility and can be repaid at any time. It carries interest at 2% per annum and in addition 0.5% is payable on each trade of precious metals where the Facility is utilised either to support a letter of credit or in direct trading. The Facility expires on 6 June 2018 and is unsecured as long as no breach of the terms of the facility has occurred..\n \nA 10% commitment fee is payable in ordinary shares of Wishbone. These shares will be issued at a price of 0.54 pence per ordinary share, being the closing mid-market price of the Company's shares on 3 June 2016. Application will be made to AIM for the admission of these 38,657,037 ordinary shares of 0.1p each in the Company (the \"Commitment Fee Shares\"). Admission of the Commitment Fee Shares is expected to occur on 10 June 2016. Following the issue of the Commitment Fee Shares, and for the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital on Admission will consist of 1,038,647,401 Ordinary Shares.\n \nRichard Poulden, Chairman and CEO of Wishbone Gold Plc commented: \"I believe this is an excellent deal for Wishbone. Sanderson have r...