Update on strategic partnership with MBM Limited
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Further to its announcement on 16 August 2024, Jade Road Investments Limited (AIM: JADE) is pleased to announce that it has today constituted up to £1,000,000 in principal value of convertible loan notes (CLN). The CLN is non-interest bearing, has a maturity of 10 months and is convertible at either the option of noteholders or the Company into JADE shares at a price which is 30% below the lowest closing bid price over the 30 business days prior to the date on which either party notifies the other it wishes to convert.
Jade has today issued £80,000 in principal value of CLN to MBM, having received such sum from MBM in the timeframe agreed with MBM under the terms of the two firms' strategic partnership.
Further announcements will be released to update on further tranches of the CLN being issued to MBM and others as well as updates on target investment opportunities.
The Board of JADE is excited about the prospects this partnership presents and looks forward to providing further updates in the near future.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.