Austral Gold Converts US$0.6M Notes into Shares

Core Points - Austral Gold Limited has issued 7,789,471 fully paid ordinary shares to an investor following the conversion of outstanding convertible notes [1][2] - The principal amount of the convertible notes was AUD$919,158 (approximately US$599,383) and convertible at AUD$0.118 per share [2] - The company plans to convert outstanding interest due under the notes into shares, which could result in an additional issuance of 1,025,077 shares, pending approval [3] Summary by Sections Share Issuance - The conversion of the principal amount resulted in the issuance of 7,789,471 shares, which are not subject to a statutory hold period in Canada [4] - If the interest conversion is approved, the total shares issued to the note holder will amount to 8,814,548, representing approximately 1.42% of the company's total issued shares [5] Financial Details - The convertible notes had a principal amount of AUD$919,158, convertible at a price of AUD$0.118 per share [2] - The outstanding interest due under the notes, amounting to AUD$120,959 (approximately US$78,877), will also be converted into shares at the same price [3] Company Overview - Austral Gold is focused on building a portfolio of quality gold and silver mining assets in the Americas, emphasizing production, exploration, and equity investments [6]