(“BWA” or the “Company”)
Update on Funding and Directorate Change
Update on Funding
Further to the Company’s announcement of
BWA has secured alternative funding to make good the shortfall immediately, by increasing the maximum nominal amount of 14% Convertible Unsecured Loan Notes (the “Loan Notes”) available for issue from £300,000 to £350,000 and issuing a further £81,000 in nominal value of the Loan Notes. Following this issue, there are £301,000 in nominal value of the Loan Notes in issue. Interest on the Loan Notes is paid at an annual rate of 4% in cash, with the remaining 10% being rolled up and convertible, along with the principal amount of the Loan Notes, into ordinary shares of 0.5p each in the Company at a price of 0.5p per share. At the same time, the Company has extended the conversion date for the Loan Notes from
The proceeds of the issue of Loan Notes and funds received pursuant to the guarantee will be used by the Company for general working capital purposes.
On completion of the acquisition of KOTN from St-Georges Eco-Mining (“SX”),
The Directors are actively reviewing the executive structure of the business to incorporate the skills and experience necessary to progress the Company’s investments in
The Directors of BWA are responsible for the contents of this announcement.
For further information please contact:
07836 238 172
020 7469 0930
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a