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Peninsula Energy in trading halt with capital raising news pending

The halt will remain until Friday, November 27, or when an announcement is made to the market.

Peninsula Energy Ltd - Peninsula Energy in trading halt ahead of capital raising news
The debt restructure provides the company with a more sustainable debt profile

Peninsula Energy Ltd (ASX:PEN) has been granted a trading halt by the ASX ahead of a capital raising announcement.

The halt will remain in place until the beginning of normal trade on Friday, November 29, 2019, or when an announcement is made to the market, whichever occurs earliest.

PEN's shares last traded at 21 cents, up from 17.5 cents on October 30.

Debt restructure agreements

The company has this week executed binding amended agreements with its lenders to restructure existing US$17 million convertible note facilities.

This restructure will result in a significant reduction in the outstanding principal owed through partial monetisation of a uranium concentrate sale and purchase agreement.

Additionally, the repayment date will be extended out to April 22, 2021.

Quick facts: Peninsula Energy Ltd

Price: 0.165 AUD

Market: ASX
Market Cap: $49.73 m

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