LDA partially converts its convertible loan
Endomines Finland Plc – Stock Exchange Release – 25.9.2023, at 15.30 EET
LDA partially converts its convertible loan
Following on information disclosed on April 3rd, 2023 in connection with the convertible loan arrangement with the LDA Capital Limited (LDA), Endomines issued a convertible loan to LDA for a total amount of EUR 1,000,000 based on LDA’s investor call request. LDA has notified Endomines that it wishes to convert part of this loan, total EUR 50,000, into new Endomines shares. Under the terms of the convertible loan agreement between the parties, the conversion price corresponds to 85 percent of the daily volume weighted average price for the Company’s share on Nasdaq Helsinki during the 15 trading days the date of the conversion demand.
As a result of the conversion, Endomines will issue 14,811 new shares. Following the conversion, the total number of shares and votes in Endomines will increase from 9,666,291 shares and votes to 9,681,102 shares and votes. The new shares represent approximately 0.2 percent of the increased total number of shares and votes of the company after the registration of the new shares.
After this conversion, the remaining LDA convertible loan totals EUR 300,000.
Endomines Finland Plc
Contact person
Minni Lempinen, acting CFO
minni.lempinen@endomines.com, +358 40 769 3483
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations focus on gold production and exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries, and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most significant and sustainable gold producing regions in the world. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com