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AuKing Mining Ltd ( (AU:AKN) ) has issued an announcement.
AuKing Mining has issued 49,111,111 new fully paid ordinary shares following the conversion of 442,000 convertible notes associated with its RiverFort loan facility at $0.009 per share. The conversion covers the entire outstanding $500,000 loan plus accrued interest, with the remaining 58,000 notes set to lapse and be cancelled, simplifying the company’s capital structure by removing this debt.
The newly issued shares form part of an existing class quoted on the ASX and were issued without a prospectus under relevant Corporations Act provisions. AuKing confirmed it is up to date with its continuous disclosure and financial reporting obligations and stated there is no excluded information, providing investors with assurance on compliance as its capital base expands through this debt-to-equity conversion.
More about AuKing Mining Ltd
AuKing Mining Ltd is an Australian resources company listed on the ASX, focused on mineral exploration and development. The company’s activities centre on identifying and advancing mining projects, positioning it within the broader mining and metals sector serving both domestic and international markets.
Average Trading Volume: 5,237,820
Technical Sentiment Signal: Sell
Current Market Cap: A$32.56M
See more data about AKN stock on TipRanks’ Stock Analysis page.