Update on the Equity Sharing Agreement

RNS Number : 9061W

Wishbone Gold PLC

20 November 2017

 

20 November 2017

Wishbone Gold Plc

("Wishbone Gold" or the "Company")

Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources

Update on the Equity Sharing Agreement

Wishbone Gold Plc and D-Beta One EQ, Ltd announce that they have today modified the Equity Sharing Agreement announced on 18 August 2017 (the "Announcement") in the following manner:

1.   The parties have agreed to double the remaining Monthly Payments from 10 to 20. This has the effect of reducing the volume of shares, which D-Beta One EQ, Ltd will trade in any given period.

2.   The proceeds of each Monthly Payment will be divided as to 50% payable to the Company and 50% allocated to the reduction of the balance of Wishbone's Investment Agreement from YA II PN Ltd.

Item 2 above will be applied retroactively to the October Monthly Payment and item 1 and item 2 will be applied to each month going forward.

The Company can confirm that $32,832.36 is due to the Company from D-Beta One EQ Ltd under the Equity Sharing Agreement for October2017. Half of this amount has been allocated by D-Beta One EQ Ltd towards the outstanding balance of the Investment Agreement with YA II PN Ltd as to $12,673.66 towards loan repayment and $3,742.52 towards interest on the loan.  As per the revised agreement $16,416.18 will be paid to the Company.

Henceforth Wishbone will report the outcome of the Swap trades and payments on a quarterly basis.

For more information on Wishbone Gold please visit the Company's website www.wishbonegold.com.

All defined terms are as used in the Announcement.

Enquiries:

Wishbone Gold Plc

Richard Poulden, CEO                                       Tel: [phone]

Allenby Capital

Nick Naylor / Nick Harriss                               Tel: [phone]

Beaufort Securities Limited

Elliot Hance                                                         Tel: [phone]

Damson Communications

Abigail Stuart-Menteth / Amelia Hubert         Tel: [phone]

 

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