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MILA RESOURCES PLC Capital/Financing Update 2021
4956_cap_2021-03-05_3b512aa7-8256-467d-9625-fdeed6d6eb50.html
Capital/Financing Update
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National Storage Mechanism | Additional information 
RNS Number : 3950R
Mila Resources PLC
05 March 2021
Mila Resources Plc
("Mila Resources" or "the Company")
Issue of Convertible Loan Notes
The Board of Directors of Mila Resources ("the Board"), a natural resources sector focused company, is pleased to announce that they have raised £350,000 through the issue of Convertible Loan Notes ("CLN") with supportive shareholders. The funds will be applied to transaction costs to acquire New Generation Minerals.
| 1. | Issuer | Mila Resources |
| 2. | Amount | £350,000 |
| 3. | Issue Date | Varies |
| 4. | Maturity Date | Six (6) months from the Issue Date |
| 5. | Redemption | Automatic redemption of principal amount plus interest on Maturity Date or on Change of Control (as therein defined) |
| 6. | Interest Rate | 6% per annum |
| 7. | Conversion | Automatic conversion on re-admission of the Company's share capital on the Standard List of the London Stock Exchange subject to the passing of resolutions in a General Meeting |
| 8. | Conversion Price | 25% discount to the Placing Price (as therein defined) |
| 9. | Security | Unsecured |
| 10. | Governing Law | Governed by the laws of England & Wales, with exclusive jurisdiction to the courts in England & Wales |
The Company has made good progress on the transaction and has lodged the prospectus with the FCA. The Company will keep shareholders updated when a timetable is finalised with the FCA to re-list.
**ENDS**
For more information visit www.milaresources.com or contact:
| Mark Stephenson | Mila Resources Plc | [email protected] |
| Jonathan Evans | Brandon Hill Capital | +44 (0) 20 3463 5000 |
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