|Ordinary Fully Paid Shares:|
|Director and Employee Performance Options:|
|Shares on Issue:||171.2m|
|Cash (as at 30th March 2020):||$135,000|
|Top 20 Shareholders:||61%|
$1m convertible note maturing 7 Jan 2022 converting at $0.05 has been assigned to 3 new investors with a non-call or convert until June 2020. Interest is accruing at 8% per annum.
ADD successfully raised $240k in April 2020 for use in exploration of the Kabanga North and North East Nickel Project. As at the 30 March 2020, the company held $131k in the bank, with a fully drawn $1m loan facility.
The company also has a standby subscription facility with LKC Technology for $250,000 to progress with the company’s ongoing operations and working capital. The facility investor agrees to subscribe to shares if requested issued at the value of the drawdown notice at an issue price of 0% of the 5 day VWAP prior to the issue of the shares. The agreement is for 5 years.