Dukemount Capital Plc announced that it has entered into a 12-month convertible unsecured loan facility for gross proceeds of £1,000,000 with a consortium arranged by Sanderson Capital Partners Limited on May 1, 2021. Out of £1,000,000, £500,000 is available immediately and the additional £500,000 available conditional on certain milestones being met by the company. The facility is interest free is convertible at the election of the company or the lenders into ordinary shares at a deemed issue price of £0.0065 per share. The company also issued warrants which are convertible at an exercise price of £0.00715 for a period of 2 years from the date of execution of the warrant instrument. The company will pay an availability fee of £70,000 payable in shares, at a deemed issue price of £0.0071 per share. Each drawdown on the facility is subject to a 2% fee payable in shares at a deemed issue price of £0.0071 per share.