Mustang raises A$8.5m from US backer

July 20, 2017

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Ruby miner Mustang Resources has secured A$8.5-millin in funding from US institutional investor Arena Investors under a convertible note facility.

The financing will be drawn down in four tranches, with the first A$1.7-million received on the signing of a convertible note deed. A second tranche of A$1.7-million will be made available subject to shareholder approval of the notes, with the third and fourth tranches consisting of A$2.55-million each.

Category: General