Ceylon Graphite to Issue Shares for Interest Payments

Ceylon Graphite Corp (TSE:CYL) has released an update.

Ceylon Graphite Corp. plans to issue 548,999 common shares to cover interest payments on its secured convertible debentures, with the shares priced at $0.03 each. These shares are part of the company’s debt arrangement initially announced in October 2023, offering a non-cash interest payment option at a rate of 9%. This issuance is pending approval from the TSX Venture Exchange and will adhere to a four-month hold period as per exchange policies.

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