Orion to raise A$8m to help fund Agama acquisition

ASX-listed Orion Gold is hoping to raise A$8-million through the issue of convertible notes to sophisticated and professional investors to enable it to complete the buyout of Agama Exploration & Mining. The junior company on Tuesday said it would issue up to 307.6-million convertible notes, with a face value of 2.6c each. The convertible notes will have a maturity date of 24 months and an interest rate of 12% a year.