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Anson Resources chairman and CEO adds to holding

Bruce Richardson has acquired further shares in his second on-market transaction this month.

Anson Resources Ltd - Anson Resources chairman and CEO adds to holding
Richardson now has almost 24 million shares in direct and indirect holdings

Anson Resources Ltd’s (ASX:ASN) executive chairman and chief executive officer Bruce Richardson has extended his holding in the company through a further on-market share purchase.

On January 15, 2020, Richardson acquired a further 78,500 shares taking his direct holding in the company to almost 5.927 million while he also has in excess of 18 million shares in an indirect holding.

This followed an on-market trade on January 10 with 168,000 shares purchased.

Securities in the lithium explorer and developer last traded at 3.7 cents, up from 2.6 cents on January 6.

Convertible note issue

Earlier this week Anson raised US$750,000 through the issue of a convertible note to major shareholder Chia Tai Xingye International, Zhongfan Group, the first of three tranches totalling A$3.275 million.

Chia Tai has now invested $6.5 million in the company in five tranches since October 2017 and is the company’s major shareholder.

Funds will be used towards a preliminary feasibility study (PFS) on the flagship Paradox Brine Project in US state of Utah, permitting and working capital.

The 3-year convertible notes are unsecured with a face value of $1.092 million per tranche paying 5% interest per annum at maturity.

The conversion price is 2.8 cents.

Quick facts: Anson Resources Ltd

Price: 0.02 AUD

Market: ASX
Market Cap: $15.67 m

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on 17/6/20

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