Non-binding term sheet for US$3m unsecured convertible note
Filed with ASX · · 4 pages · English
Summary by 6ix AI
Genmin Ltd. has signed a non-binding term sheet for an unsecured convertible notes offer with a sophisticated family office in the United States, aiming to raise funds for its Baniaka iron ore project and general working capital. The proposed financing involves the issuance of convertible notes and options, with the total amount to be advanced in two tranches, subject to shareholder approval for the second tranche. The notes will have a maturity date and a conversion option into shares at a specified price, with interest payable in shares as well.
Written by 6ix AI from the company’s filing. How 6ix writes summaries
In the deck
Story so far
Earlier from Genmin
- Non-executive Chair provides A$2.0 million in funding
- Appendix 5B
- Baniaka construction collaboration and funding procurement
- Gabon completes peaceful Presidential Election
- Baniaka early works commenced, Oval Advisory retained
Later from Genmin
- Total funding of A$1.0 million provided by Directors
- Quarterly Cashflow Report Appendix 5B
- Quarterly Activities Report
- Additional director loan funding
- Baniaka construction proposals received
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