Amaroq Minerals Converts Debt into Equity

AEX Gold, Inc. (TSE:AMRQ) has released an update.

Amaroq Minerals has agreed to convert $22.4 million in convertible debt into equity, simplifying its balance sheet and reducing interest costs while increasing financial flexibility. The debt conversion will result in 33.6 million new shares at C$0.90 each, and 1.3 million shares for accrued interest at C$1.3, pending final approval from TSXV. Additionally, 70% of the commitment fee, about $3.1 million, will be immediately payable and converted into 3.3 million shares at C$1.3 each.

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