Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group, announces the publication of a Prospectus to clear the Company’s liabilities.
The Prospectus provides detail on the sum of USD 2,890,184 of loans and liabilities, covering a period since early 2017. These have been converted to the value of 121,513,516 shares, representing 32.94% of the enlarged share capital. The total number of shares in issue will be 368,862,591.
The conversion represents debt largely from management, who are long term shareholders, committed to the future of the Company and bringing the South Korean projects, Gubong and Kochang, into production. Colin Patterson, Chief Executive Officer, has been the largest single investor over the past two years, and becomes the largest shareholder with 19.1% of the Company.
The Prospectus has been approved by the UKLA and will shortly be available for inspection at the Company website: https://bluebirdmv.com/financial-information/
The Prospectus is also available through this link.
Colin Patterson, Chief Executive Officer, said “We are pleased to announce this major milestone for Bluebird. The Company is now largely debt free and the balance sheet has been cleaned up. This is a huge vote of confidence in the projects, Gubong and Kochang, and we look forward to receiving the permits which will allow us to progress our activities.”