Wishbone Gold PLC Correction - Signing of Loan Facility (2998A)
06 June 2016 - 7:48PM
UK Regulatory
TIDMWSBN
RNS Number : 2998A
Wishbone Gold PLC
06 June 2016
The following amendments have been made to the 'Signing of Loan
Facility' announcement released today at 7:00 a.m. under RNS No
2432A.
The 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.
All other details remain unchanged.
The full amended text is shown below.
6(th) June 2016
Wishbone Gold Plc
Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural
Resources
Wishbone Gold PLC ("Wishbone Gold" or the "Company")
Signing of Loan Facility
Wishbone 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.
The 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..
A 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.
Richard Poulden, Chairman and CEO of Wishbone Gold Plc
commented: "I believe this is an excellent deal for Wishbone.
Sanderson have recognised the lower risk opportunity of the project
with a low interest rate and other fees linked entirely to the
success of our operations. Thus far we have traded gold in small
volumes constrained by working capital and this enables us to move
on the larger contracts, which we have in place. We will issue a
trading update as soon as we are able to do so."
ENDS
For further information, please contact:
Wishbone Gold Plc
Richard Poulden, CEO Tel: +44 207 812 0645
Allenby Capital
Virginia Bull / James Thomas Tel: +44 20 3328 5656
Damson Communications
Abigail Stuart-Menteth Tel: +44 207 812 0645
This information is provided by RNS
The company news service from the London Stock Exchange
END
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