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LONDON - Bluebird Mining Ventures Ltd (LSE:BMV.L) has secured a £2 million interest-free loan facility and appointed a new board chairman as part of its strategy to invest in bitcoin, according to a press release statement issued Wednesday.
The mining company signed a Heads of Terms agreement with an investment vehicle directed by Sath Ganesarajah, who will join Bluebird as Non-Executive Chairman on June 30. The loan carries no interest and matures on December 31, 2026.
An initial £1 million will be made available upon execution of a definitive agreement, with proceeds designated specifically for bitcoin purchases. The funding can be converted to Bluebird shares at 2p per share at the investor’s discretion.
Ganesarajah, 43, brings experience in crypto assets and institutional capital markets, having advised global hedge funds on crypto strategy and digital asset fund structuring. He previously held trading roles at Morgan Stanley (NYSE:MS), Citi, and Credit Suisse.
"Bluebird has the right ingredients—hard assets, public market access, and a clean slate," Ganesarajah stated in the release.
The company also expects to appoint a new CEO by the end of July 2025. According to Aidan Bishop, Bluebird’s Executive Director and Interim CEO, the new leadership will focus on developing what he described as a "UK first approach of physical Gold + ’digital gold’ investing strategy."
Bluebird Mining Ventures describes itself as a pan-Asian gold project development company. The loan agreement represents the company’s initial step into cryptocurrency investment alongside its existing mining operations.
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