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IONDRIVE LIMITED — Capital/Financing Update 2022
Apr 18, 2022
65132_rns_2022-04-18_add3a586-e22b-4309-aea6-bc20f07a279d.pdf
Capital/Financing Update
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Bluebird Merchant Ventures Secures Funding Package
Southern Gold Limited is a shareholder in Bluebird Merchant Ventures (LSE:BMV) and holds 200 Million shares in BMV.
An announcement by BMV was released to the London Stock Exchange on 13[th] April, 2022 on Funding to accelerate move to gold production with the highlights being
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Comprehensive funding package secured to enable BMV to advance to gold production in 2022.
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BMV Board of Directors demonstrate commitment through agreeing to 12 months lockin on their respective shareholdings.
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Existing BMV debt refinanced on attractive terms
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Search for a UK based Executive who will be responsible for promoting the Company who will be responsible for promoting BMV and engaging with shareholders as the Company progresses to production
The full announcement by BMV can be seen on this link;
Funding package to accelerate move to production - 10:30:09 12 Apr 2022 - BMV News article | London Stock Exchange
To assist in achieving the Funding package Southern Gold have agreed to a 12-month standstill clause on its 150M shares and has agreed to sell 50M shares for approximately $870,0OO as a condition of the new investment package into Bluebird Merchant Ventures.
The Chairman of Southern Gold limited, Greg Boulton commented:
“This is exciting news for us as the major shareholder in BMV. The funding package and other action taken by BMV Directors brings the Kochang project to realization with on ground work commencing in the next few months.
Our focus remains on exploration for Gold in South Korea with 17 staff and contractors working on highly prospective opportunities.
We congratulate the BMV Directors to be able to reignite mining plans after a very difficult COVID environment and the lack of funding in the past.”
Authorised for release by the Board of Southern Gold Limited.
Southern Gold Limited 10 George Street ABN 30 107 424 519 Stepney SA 5069
PO Box 255 email [email protected] telephone 08 8368 8888 Kent Town SA 5071 web southerngold.com.au facsimile 08 8363 0697
Further Information: Greg Boulton Investor and Media Relations 08 8368 8888 Lexi O’Halloran [email protected] [email protected]
Southern Gold Limited: Company Profile
Southern Gold Ltd is a successful gold explorer listed on the Australian Securities Exchange (ASX ticker “SAU”). Southern Gold owns 100% of a substantial portfolio of high‐grade gold projects in South Korea that are largely greenfield epithermal gold‐silver targets in the south‐west of the country. Backed by a first‐class technical team, Southern Gold’s aim is to find tier one epithermal gold‐silver deposits in a jurisdiction that has seen very little modern exploration.
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