Blackstone Resources AG (SWX: BLS) has entered a convertible loan facility agreement in January 2021 for up to CHF 20 million valid for three years. The convertible loan has a zero percent coupon and can be divided with various noteholders. Any conversion into equities will be restricted for the first 90 days after payment of the notes and in addition can be extended if requested by the Blackstone Resources AG. The third tranche of CHF 2 million convertible loan has now been purchased as notes and has already been paid by two investors. Additional draw down can be done at any time when requested by Blackstone Resources AG and agreed by the investors. At the time of conversion of the convertible loan, the additional required shares will increase the conditional shares capital of the company.
The loan facility will be used to fund Blackstone Resources AG's plans to mass-produce the next generation of 3D-printed solid-they batteries and for other investments. The batteries will be used in the auto industry and in many other applications. The company has already started to operate the factory facilities in Saxony, Germany where production will begin in mid 2021.
The loan facility will be used to fund Blackstone Resources AG's plans to mass-produce the next generation of 3D-printed solid-they batteries and for other investments. The batteries will be used in the auto industry and in many other applications. The company has already started to operate the factory facilities in Saxony, Germany where production will begin in mid 2021.
