AI assistant
GBM RESOURCES LIMITED. — Capital/Financing Update 2019
May 8, 2019
64966_rns_2019-05-08_62393d89-8b7d-4937-ba61-9fc08c69bbd7.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [154 x 74] intentionally omitted <==
ABN 91 124 752 745
ASX Code: GBZ
9 May 2019
COMPANY DIRECTORS
ASX Announcement
A$700,000 Convertible Note Term Sheet Executed
The Board of GBM Resources Limited (‘GBM’ or ‘the Company’) is pleased to announce that the Company has executed a term sheet for a A$700,000 Convertible Note to be issued to Lion Resources Development Pte Ltd (Subscriber), which is not a related party of GBM Resources Limited.
Key details of the Convertible Note Term Sheet are as follows:
-
Subscriber to pay the Convertible Note amount of A$700,000 (Principal Amount) on or before the 30[th] May 2019.
-
Repayment Date is 12 months from date of issue.
-
Interest is payable on the Principal Amount until the Convertible Notes are either redeemed or converted into fully paid ordinary shares (Shares) in the capital of the Company at the rate of 10% per annum, calculated monthly and payable 3 monthly in arrears.
-
Each Convertible Note will be convertible into Shares at a conversion price of $0.005 per Share.
-
The Subscriber may before the Repayment Date, convert the Convertible Notes into Shares.
Peter Thompson Managing Director/ Executive Chairman
Sunny Loh Non-Executive Deputy Chairman
Neil Norris Exploration Director – Executive
Hun Seng Tan Non-Executive Director
CONTACT DETAILS
Principal & Registered Office Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153
Exploration Office 10 Parker Street, Castlemaine, Victoria 3450
Website www.gbmr.com.au
Email [email protected]
Phone +61 (8) 9316 9100
Fax +61 (8) 9315 5475
Phone (Exploration Office) +61 (3) 5470 5033
- The Convertible Notes are secured over the issued capital of Mt Coolon Gold Mines Pty Ltd.
The proceeds received from the Convertible Notes will be applied by the Company towards working capital requirements. The Company will issue the Convertible Notes pursuant to its placement capacity under Listing Rule 7.1.
==> picture [52 x 52] intentionally omitted <==
For Further information please contact:
Media enquiries: Peter Thompson Michael Vaughan Managing Director Fivemark Partners GBM Resources Limited +61 422 602 720 +61 8 9316 9100 [email protected]