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Edenville Energy Plc, an AIM quoted company operating the Rukwa Coal Project in southwest Tanzania, has announced a number of developments.
Highlights
Proposed strategic investment by Anthony (Tony) Buckingham of £1 million as part of a £2.48 million (before expenses) placing, which includes participation from the company’s substantial shareholders of, in aggregate, an additional £1.05 million.
Additional assets targeted in line with previous announcements.
Strategic investor
The company is pleased to announce that Buckingham has agreed a £1 million strategic investment in the company through the placing (as defined below), giving him a shareholding of 18.5% of the company’s issued share capital, as enlarged by the placing, which is subject to, inter alia, shareholder approval at a General Meeting to be convened shortly.
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Edenville Energy Plc, an AIM quoted company operating the Rukwa Coal Project in southwest Tanzania, has provided the following corporate update.
Funding agreement with Lind Partners LLC: update
The company has provided an update regarding its outstanding funding agreement with Lind Partners LLC, that was first announced on 6 November 2018 (the funding agreement).
As announced on 6 October 2020, Lind requested Edenville repay the total outstanding balance of the funding agreement, being US$580 000, by 30 November 2020. The company has since been engaged in a constructive dialogue with Lind regarding the repayment terms of the funding agreement and is pleased to report the revised repayment schedule has been agreed as follows: