Wishbone Gold PLC Update on the Equity Sharing Agreement (9061W)
November 20 2017 - 1:00AM
UK Regulatory
TIDMWSBN
RNS Number : 9061W
Wishbone Gold PLC
20 November 2017
20 November 2017
Wishbone Gold Plc
("Wishbone Gold" or the "Company")
Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural
Resources
Update on the Equity Sharing Agreement
Wishbone Gold Plc and D-Beta One EQ, Ltd announce that they have
today modified the Equity Sharing Agreement announced on 18 August
2017 (the "Announcement") in the following manner:
1. The parties have agreed to double the remaining Monthly
Payments from 10 to 20. This has the effect of reducing the volume
of shares, which D-Beta One EQ, Ltd will trade in any given
period.
2. The proceeds of each Monthly Payment will be divided as to
50% payable to the Company and 50% allocated to the reduction of
the balance of Wishbone's Investment Agreement from YA II PN
Ltd.
Item 2 above will be applied retroactively to the October
Monthly Payment and item 1 and item 2 will be applied to each month
going forward.
The Company can confirm that $32,832.36 is due to the Company
from D-Beta One EQ Ltd under the Equity Sharing Agreement for
October2017. Half of this amount has been allocated by D-Beta One
EQ Ltd towards the outstanding balance of the Investment Agreement
with YA II PN Ltd as to $12,673.66 towards loan repayment and
$3,742.52 towards interest on the loan. As per the revised
agreement $16,416.18 will be paid to the Company.
Henceforth Wishbone will report the outcome of the Swap trades
and payments on a quarterly basis.
For more information on Wishbone Gold please visit the Company's
website www.wishbonegold.com.
All defined terms are as used in the Announcement.
Enquiries:
Wishbone Gold Plc
Richard Poulden, CEO Tel: +44 207 812 0645
Allenby Capital
Nick Naylor / Nick Harriss Tel: +44 20 3328 5656
Beaufort Securities Limited
Elliot Hance Tel: +44 20 7382 8300
Damson Communications
Abigail Stuart-Menteth / Amelia Hubert Tel: +44 207 812 0645
This information is provided by RNS
The company news service from the London Stock Exchange
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