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LONDON - Hamak Strategy Limited (LSE:HAMA) announced Wednesday it has secured a funding package comprising a £5 million convertible loan note (CLN) with YA II PN, Ltd and a proposed £30 million at-the-market (ATM) facility with its corporate broker AlbR Capital.
The CLN agreement was signed with YA II PN, Ltd, an institutional investor managed by Yorkville Advisors Global. According to the press release statement, the loan note can be converted into new Hamak shares at a 20% premium to the lower of the closing price on the completion date or the average volume-weighted price over the preceding five trading days.
The loan will be repaid at £500,000 per month over one year after an initial 60-day period, unless conversion rights are exercised. It carries a 5% interest rate accruing from the first drawdown.
The ATM facility will allow Hamak to issue new shares to raise capital under controlled conditions, with the company setting floor prices and trading volumes. Proceeds from the ATM will prioritize repayment of the CLN.
Both financing arrangements are conditional on shareholder approval at a general meeting scheduled for November 3, 2025, where a resolution to waive pre-emption rights will be proposed. The company reported it has secured irrevocable undertakings to vote in favor of the resolution from 26.25% of shareholders, including board members and management.
Hamak Strategy, which combines gold exploration in Africa with digital asset treasury management, trades on the London Stock Exchange and OTCQB market. The company stated that the funding will support its "gold/bitcoin strategy to grow shareholder value."
The funding package is subject to certain conditions precedent that must be satisfied within 30 days, including security arrangements and execution of the ATM agreement.
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