HIGHLIGHTS
- US$2.5M Convertible Note converted at $0.038 per share.
- Conversion at a premium to agreement conversion mechanism.
- Conversion terms renegotiated to more favourable position for the Company.
- Company now debt free, with significantly strengthened balance sheet.
NSL Consolidated Limited (ASX:NSL, NSLO) wishes to advise that in working closely with the Convertible Note holder, Resources First, and at their election, agreement has been reached to convert the principal amount of US$2.5m to fully paid ordinary shares in the Company at $0.038 per share for which the Company will issue 90,672,814 shares and a cash payment of A$500,000.
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