Kendrick Resources PLC (GB:KEN) has released an update.
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Kendrick Resources PLC, a mineral exploration firm active in Scandinavia, has secured a £500,000 convertible loan facility with Sanderson Capital Partners Ltd to bolster its working capital amidst market volatility. The loan is structured in four tranches, with the option for the company to convert the loan to shares if certain conditions are met, and includes an arrangement fee and warrants issuance for the lender. The facility terms also allow for optional additional funding and come with an interest-free benefit, highlighting Kendrick’s strategic financial planning to support its battery metal projects.
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