MetalNRG Plc Secures Funding Through Loan Notes

MetalNRG Plc (GB:MNRG) has released an update.

MetalNRG Plc has successfully raised £244,000 through the issuance of convertible loan notes, which carry a 15% annual interest rate and can be converted into company shares at a 20% discount within two years or upon a reverse takeover event. The funding will be used for due diligence on potential takeover targets and general corporate purposes. The announcement was overseen by Rolf Gerritsen, an executive director of the company.

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