Western Gold Resources Ltd. (AU:WGR) has released an update.
Western Gold Resources Ltd. has issued 500,000 convertible notes to bolster its cash reserves by $500,000, aiming to facilitate future conversion of these notes into shares without additional disclosure to retail investors. This financial maneuver is designed to align with the company’s capital raising strategy and strengthen its financial stance amid current market conditions. Importantly, the issued notes will carry an annual interest rate of 12%, with the potential to alter the company’s capital structure upon conversion.
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