Viceroy converts preferred shares early

Viceroy Resource (VOY-T) has agreed to the earlier conversion of outstanding preferred shares held by Forrestania Gold, a wholly owned Australian subsidiary of LionOre Mining International (LIM-T).

Forrestania’s shares were convertible into nearly 4.1 million common shares, but in return for the early conversion, the number of shares issued to Forrestania was reduced to 3.5 million and payment of future dividends of about $198,000 waived.

Following the conversion, Viceroy’s total number of issued shares climbed to just less than 84.2 million.