Mila Resources Plc announced that it will issue convertible loan notes for AUD 100,000 on July 27, 2023. The transaction included participation new investor Liontown Resources Limited. The Notes are repayable by conversion into Mila Shares at a price to be determined on Mila's next fundraise.

The company may repay the Notes without penalty after 31 December 2023. The Notes carry no interest except on the occurrence an event of default, when interest at 10% per annum will become payable.