Beowulf Mining falls after Bacchus Capital declines to extend Sept. 30 financing deadline
Beowulf Mining shares fell 16% to 5.25p as Bacchus Capital will not extend a Sept. 30 long-stop date amid a Swedish regulatory review, while Investor Alumni Capital agreed to extend to Dec. 31 for a £30,000 fee.
69 million) financing, declined to extend a Sept. 30 long-stop date during a Swedish regulatory review. The company said Alumni Capital agreed to extend the long-stop date under the agreement to Dec. 31 in return for a £30,000 extension fee.
Beowulf said it is cutting spending, including salaries, and is seeking about £110,000 in interim funding to keep operating until the end of 2026. The stock was down 52% year to date. 7559 pounds)