Resolute Mining to redeem its convertibles on Dec. 31

By Tali David

Minneapolis, Nov. 21 - Resolute Mining Ltd. announced that it will redeem on Dec. 31 any convertibles not converted into Resolute ordinary shares.

On redemption, note holders will receive A$0.50 for each convertible note plus accrued interest from July 1 to the redemption date at the rate of 12% per annum.

Note holders may convert some or all notes into fully paid ordinary shares in Resolute before the redemption date, with each note will converting into one share. Resolute stock closed at A$2.10 on Nov. 16.

Resolute Mining is a developer of gold projects based in Perth, Western Australia.

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