Cornerstone Investor Support Secures Carbon Energy’s Pathway Forward
•Cornerstone investor Kam Lung to purchase $10m Convertible Note
• Proposed $5 million rights issue to place Company in a stronger financial position – to be 70% underwritten by Kam Lung
• Extension of time to hold 2016 Annual General Meeting granted
• Pacific Road appointed to monetise the Company’s coal assets Carbon Energy Limited
(ASX:CNX, OTCQX:CNXAY) today announces that with the backing of its cornerstone investor, Kam Lung Investment Development Co Ltd (“Kam Lung”), it has secured funding for the refinancing of the Company’s $10 million Convertible Note (“Convertible Note”) as well as establishing a solid foundation for growth in the years ahead.
Kam Lung are a very smart operation
CNX Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
