Tonogold Announces Receipt of Conversion Commitments Representing Approximately 80 Percent of Its Outstanding Convertible Loan Notes
TONOGOLD Resources Inc. (OTC PINK:TNGL) has announced that it has received commitments for the conversion of approximately 80% of its outstanding convertible loan notes (CLNs) into common stock at a price of $0.10 per share. This conversion is a important step towards closing the previously announced acquisition of JAG Minerals Pty , a large, diversified US-focused uranium company.
The company views this as a significant milestone, demonstrating the support of CLN investors for the JAG Minerals acquisition and its US-based uranium projects. TONOGOLD is continuing discussions with additional CLN holders to potentially increase the conversion percentage further. This development is part of the company's ongoing efforts to restructure its capital structure, as announced on April 10, 2024.
TONOGOLD Resources Inc. (OTC PINK:TNGL) ha annunciato di aver ricevuto impegni per la conversione di circa l'80% dei suoi prestiti convertibili (CLNs) in azioni ordinarie a un prezzo di $0.10 per azione. Questa conversione rappresenta un passo importante verso la chiusura dell'acquisizione precedentemente annunciata di JAG Minerals Pty, una grande azienda mineraria statunitense diversificata nel settore dell'uranio.
L'azienda considera questo un traguardo significativo, a conferma del supporto degli investitori CLN per l'acquisizione di JAG Minerals e i suoi progetti nel settore dell'uranio negli Stati Uniti. TONOGOLD sta continuando le discussioni con ulteriori detentori di CLN per aumentare ulteriormente la percentuale di conversione. Questo sviluppo fa parte degli sforzi in corso dell'azienda per ristrutturare la propria struttura di capitale, come annunciato il 10 aprile 2024.
TONOGOLD Resources Inc. (OTC PINK:TNGL) ha anunciado que ha recibido compromisos para la conversión de aproximadamente el 80% de sus notas de préstamo convertible (CLNs) en acciones ordinarias a un precio de $0.10 por acción. Esta conversión es un paso importante hacia el cierre de la adquisición previamente anunciada de JAG Minerals Pty, una gran empresa diversificada de uranio enfocada en EE. UU.
La empresa considera esto como un hito significativo, demostrando el apoyo de los inversores de CLN para la adquisición de JAG Minerals y sus proyectos de uranio en EE. UU. TONOGOLD continúa las discusiones con otros titulares de CLN para aumentar potencialmente el porcentaje de conversión. Este desarrollo es parte de los esfuerzos de la empresa para reestructurar su estructura de capital, tal como se anunció el 10 de abril de 2024.
TONOGOLD Resources Inc. (OTC PINK:TNGL)는 약 80%의 전환 가능한 대출 노트(CLN)를 주식으로 전환하기 위한 약속을 받았다고 발표했습니다. 이 전환은 미리 발표된 JAG Minerals Pty 인수의 마무리를 향한 중요한 단계입니다. 이 회사는 이것을 중요한 이정표로 보고 CLN 투자자들이 JAG Minerals 인수 및 미국 기반의 우라늄 프로젝트에 대한 지원을 보여주고 있습니다. TONOGOLD는 추가 CLN 보유자와의 논의를 계속하여 전환 비율을 더 높일 가능성을 타진하고 있습니다. 이번 개발은 2024년 4월 10일에 발표된 자본 구조 재구성의 일환입니다.
TONOGOLD Resources Inc. (OTC PINK:TNGL) a annoncé avoir reçu des engagements pour la conversion d'environ 80 % de ses obligations convertibles (CLNs) en actions ordinaires au prix de 0,10 $ par action. Cette conversion est une étape importante vers la clôture de l'acquisition précédemment annoncée de JAG Minerals Pty, une grande entreprise diversifiée d'uranium axée sur les États-Unis.
L'entreprise considère cela comme un jalon significatif, démontrant le soutien des investisseurs CLN pour l'acquisition de JAG Minerals et ses projets d'uranium basés aux États-Unis. TONOGOLD poursuit les discussions avec d'autres détenteurs de CLN pour éventuellement augmenter davantage le pourcentage de conversion. Ce développement fait partie des efforts continus de l'entreprise pour restructurer sa structure de capital, comme annoncé le 10 avril 2024.
TONOGOLD Resources Inc. (OTC PINK:TNGL) hat bekannt gegeben, dass es Verpflichtungen für die Umwandlung von etwa 80% seiner ausstehenden wandelbaren Anleihe-Scheine (CLNs) in Stammaktien zu einem Preis von 0,10 $ pro Aktie erhalten hat. Diese Umwandlung ist ein wichtiger Schritt zur Schließung der zuvor angekündigten Übernahme von JAG Minerals Pty, einem großen, diversifizierten Uranunternehmen mit Fokus auf die USA.
Das Unternehmen betrachtet dies als einen bedeutenden Meilenstein, der die Unterstützung der CLN-Investoren für die Übernahme von JAG Minerals und deren Uranprojekte in den USA demonstriert. TONOGOLD führt weiterhin Gespräche mit zusätzlichen CLN-Inhabern, um möglicherweise den Umwandlungsanteil weiter zu erhöhen. Diese Entwicklung ist Teil der laufenden Bemühungen des Unternehmens, seine Kapitalstruktur neu zu gestalten, wie am 10. April 2024 angekündigt.
- 80% of outstanding convertible loan notes committed for conversion to equity
- Conversion price set at $0.10 per share
- Progress towards closing the acquisition of JAG Minerals Pty
- Demonstrates investor support for the company's acquisition strategy
- Potential dilution of existing shareholders due to conversion of loan notes to equity
Highlights
TONOGOLD receives commitments for conversion of approximately
80% of its outstanding convertible loan notesConversion of the outstanding loan notes is a material part of closing the announced acquisition of large, diversified US focused uranium company JAG Minerals Pty Ltd
WOODLAND HILLS, CA / ACCESSWIRE / October 1, 2024 / TONOGOLD Resources Inc. (OTC PINK:TNGL) ("TONOGOLD" or the "Company" is pleased to inform shareholders that it has received commitments for conversion to equity of approximately 80 percent of the aggregate amount (principal and accrued interest) of its outstanding convertible loan notes (CLNs) into common stock of the Company.
As announced on April 10, 2024, the Company has been working on restructuring the capital structure and continues to make significant progress in doing so. These conversions have been into the Company's shares have been undertaken at a price of
The Company is in ongoing discussions with additional CLN holders in an effort to further increase the amount of conversion commitments. Any further increases in the percentage of conversion commitments will be announced in the future as they become material.
TONOGOLD CEO William Hunter stated: "We're pleased to have met this important milestone which we believe shows the support of our CLN investors for our recently announced acquisition of JAG Minerals and their exciting US based uranium projects."
Enquiries
For further information, please contact:
William Hunter
Interim CEO Tonogold Resources Inc
M: +1 203 856 7285
E: bhunter@tonogold.com
SOURCE: Tonogold Resources, Inc.
View the original press release on accesswire.com
FAQ
What percentage of TONOGOLD's (TNGL) convertible loan notes have been committed for conversion?
At what price are TONOGOLD's (TNGL) convertible loan notes being converted?
How does the loan note conversion relate to TONOGOLD's (TNGL) acquisition plans?
When did TONOGOLD (TNGL) announce its capital restructuring efforts?
