Business
Fundraising and Investment Agreement
Fundraising and Investment Agreement.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \nRNS Number : 4531O Wishbone Gold PLC 18 August 2017 \n\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\").\n \n18 August 2017\n \nWishbone Gold Plc\n(\"Wishbone Gold\" or the \"Company\")\nWishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources \n \nFundraising, Investment Agreement and grant of Warrants\n \nHighlights\n \n· Fundraising from institutional investors (the \"Facility\") arranged by RiverFort Global Capital (\"RiverFort\") \n· Issue price under the Facility of 0.7 pence per new ordinary share\n· The Facility (which comprises a subscription of £0.8 million and an equity sharing agreement) to be used to fund the Company's continuing operations, including general working capital requirements\n· Up to US$2 million Investment Agreement ('Investment') with YA II PN, Ltd arranged by Riverfort with an initial drawdown of US$400,000 repayable on the first anniversary of the date of drawdown. Any further tranches may be drawn down if agreed with the Company and at YA II's absolute discretion\n· Grant of warrants\n \nRichard Poulden, Chairman of Wishbone Gold, commented: \"This is the first stage in an overall funding relationship with RiverFort that can lead to the funding of new deals at the project level. I have worked with Brian Kinane, CEO of RiverFort, in the past and have admiration for his skills in this area.\"\n \nGraham Stirling, CIO of RiverFort, commented: \"This innovative financing structure offered to Wishbone Gold by RiverFort will allow them to build on their solid progress to date. RiverFort believes in the future potential of Wishbone Gold and this funding is an integral part of assisting them in achieving this potential. It underlines our faith in Wishbone Gold's Board's ability to execute on their strategy.\"\n \nSummary\n \nWishbone Gold Plc (AIM: WSBN), announces that it has agreed the Facility, which has been organised by RiverFort, and consists of two parts. The first part is a subscription to raise £0.8 million, befor...