Squadron Increases Equity by Conversion of Notes
The Notes were held under the terms of the Investment Agreement with Squadron (see announcement dated 15 July 2015) and issued on 7 August 2015 with a term of 3 years from the date of issue.
Under the terms of the Agreement 148,148,148 shares will be issued within 5 business days.
Under the Agreement Squadron can convert the Notes into Impact shares at a conversion price which is the lower of 2.1 cents per share or 80% of the 30-day Volume Weighted Average Price (VWAP) prior to the date of the Conversion Notice which was 1.35 cents.
About Impact Minerals Limited
Impact Minerals Limited (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
Impact Minerals Limited