ASF GROUP LIMITED — Capital/Financing Update 2019

Apr 17, 2019

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Rey refinances loan facilities

Rey Resources Limited (“Rey” or “the Company”) is pleased to announce that the Company has entered into a new Loan Agreement ( Loan Agreement ) with Wanyan Liu, a substantial shareholder in the Company ( Lender ), pursuant to which a loan of $3,000,000 has been provided by the Lender to the Company ( Loan ).

The Loan will mature on 31 December 2020, with interest accruing at the rate of 12% per annum. The Company notes the Loan is in addition to the existing $500,000 loan from Wanyan Liu, as announced on 3 July 2017 and 2 March 2018, which matures on 31 December 2019.

The Loan will be used to repay up to $2,500,000 of the current $3,800,000 loan facility with ASF Group Limited ( ASF Loan Facility ) (which will remain available for re-draw pursuant to the terms of the ASF Loan Facility) and to provide general working capital.

For further information please contact:

Wei Jin

Managing Director +61 2 9290 9600