(‘’All Star’’ or the Company)
Issue of Equity, Conversion of Loan Notes and Grant of Warrants
Further to the announcement made on
A total of £280,000 before expenses has been raised by the Company since
In addition, a convertible loan note holder has agreed to convert £55,000 principal at the Placing Price into 275,000,000 new ordinary shares (“Loan Conversion”).
Following the Conversion, the Company no longer has any outstanding loan notes.
The Company is also issuing 34,000,000 new ordinary shares in relation to £34,000 of existing liabilities at a price of 0.1p per share (“Liability Conversion”).
As a result of the Placing, Loan Conversion and Liability Conversion, the Company has issued 1,309,000,000 new ordinary shares.
In relation to the Placing and Loan Conversion, the Company is to issue 837,500,000 warrants exercisable at 0.04p per share. The warrants expire on
The net proceeds of the Placing will be used for working capital purposes and potential project evaluation.
Total Voting Rights
Following the issue of shares in relation to the Placing, Loan Conversion and Liability Conversion, the Company now has ordinary shares in issue of 2,839,474,743.
The Directors of All Star are responsible for the contents of this announcement.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Via Cairn Financial
AQSE Corporate Adviser
020 7213 0880