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Globe Metals & Mining Secures A$520,000 via Convertible Note

Story Highlights
  • Globe Metals & Mining raised A$520,000 through a convertible note for short-term capital.
  • The note offers a 20% coupon rate and a conversion price discount, impacting shareholding.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Globe Metals & Mining Secures A$520,000 via Convertible Note

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Globe Metals & Mining Limited ( (AU:GBE) ) has provided an update.

Globe Metals & Mining Limited has raised A$520,000 through a convertible note issued to an overseas investor, Ms. Jennifer Ping, to support its short-term working capital needs. The note, which is unsecured and convertible into shares, offers a 20% annual coupon rate and a conversion price at a 20% discount to the 15-day volume-weighted average price of the company’s shares. This financial maneuver provides Globe Metals & Mining with flexibility in managing its capital requirements and could impact its shareholding structure if converted.

More about Globe Metals & Mining Limited

Globe Metals & Mining Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange under the ticker ASX: GBE.

Average Trading Volume: 169,911

Technical Sentiment Signal: Hold

Current Market Cap: A$29.18M

Find detailed analytics on GBE stock on TipRanks’ Stock Analysis page.

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