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BRIEF-Globus Maritime announces agreement regarding $5 mln equity private placement and conversion of certain outstanding loans
November 28, 2016 / 8:00 PM / in a year

BRIEF-Globus Maritime announces agreement regarding $5 mln equity private placement and conversion of certain outstanding loans

Nov 28 (Reuters) - Globus Maritime Ltd :

* Globus Maritime announces agreement regarding $5 million equity private placement and conversion of certain outstanding loans

* Globus Maritime- Intends to use proceeds from sale of common shares, warrant for working capital including repayment of debt

* Globus Maritime Ltd- Issue of 5 million shares of stock, par value $0.004 per share, warrant to purchase 25 million shares of stock at price of $1.60 per share

* Globus Maritime- Co must terminate aggregate of $20 million of outstanding principal, interest of two loans with relevant lenders

* Globus Maritime Ltd- Expects approximately $1.2 million to remain outstanding in aggregate on the two loans with relevant lenders Source text for Eikon: Further company coverage:

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