Share Name Share Symbol Market Type Share ISIN Share Description
Mila Resources Plc LSE:MILA London Ordinary Share GB00BD4FCK53 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 2.60 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.3 -1.1 - 1

Mila Resources PLC Issue of Convertible Loan Notes

05/03/2021 5:07pm

UK Regulatory (RNS & others)

Mila Resources (LSE:MILA)
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From Oct 2020 to Oct 2021

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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 GBP350,000 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            GBP350,000 
      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 
      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.


For more information visit www.milaresources.com or contact:

   Mark Stephenson      Mila Resources Plc        info@milaresources.com 
   Jonathan Evans       Brandon Hill Capital      +44 (0) 20 3463 5000 

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(END) Dow Jones Newswires

March 05, 2021 12:07 ET (17:07 GMT)

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