Bluebird Merchant Ventures (GB:BMV) has released an update.
Bluebird Mining Ventures Ltd has secured a £350,000 loan facility from Catalyse Capital Ltd to support its gold mine development activities in South Korea and the Philippines. In an effort to avoid stock dilution and underwrite current equity value, the company is also conducting an equity raise at 1p per share, with the Board converting outstanding fees to equity. The financing strategy is designed to push forward the company’s goal of initiating production in its gold projects, with local joint venture partners contributing approximately US$9 million in development capital.
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