Mercator Gold aims to revise terms of £2.57 million in convertibles

By Devika Patel

Knoxville, Tenn., Sept. 14 - Mercator Gold plc said it will hold an extraordinary meeting on Sept. 28 to seek approval from holders of its £2.57 million in unsecured convertible loan notes to vary the terms of the notes.

The company is seeking to extend the notes' maturity by three years to Oct. 17, 2013. It also hopes to change the conversion price to 1.1p and fix the interest rate at 10% per annum. All other terms of the notes will be unchanged.

Mercator is a London-based gold mining company.

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