Echo Energy (GB:ECHO) has released an update.
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Echo Energy PLC has announced a £500,000 unsecured conditional convertible loan note arrangement with an institutional investor to support general working capital and explore a promising gold project in Latin America. The agreement includes zero-interest terms with a 24-month maturity and provides conversion and redemption rights for the lender. An initial drawdown of £80,000 has been agreed upon, giving the company a capital boost after fees.
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