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BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2017
Feb 27, 2017
64557_rns_2017-02-27_9ecee3d0-707b-442d-a759-7fa69ae1a11a.pdf
Capital/Financing Update
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ASX Release
28 February 2016
Cost Reimbursement – Rox Resources
IM Medical Limited (ASX: IMI, IMIOA) (“ IMI ”) is pleased to announce that its subsidiary IMI Zinc Exploration Pty Ltd (“ IMI Zinc ”) has received the final payment of $200,000 from Rox Resources Limited under the 14 December 2016 Settlement Agreement.
The terms of the agreement between Rox and IMI Zinc included an obligation, arising in the event the IMI Offer was not accepted, for Rox to reimburse IMI Zinc for its reasonable costs incurred in relation to the IMI Offer. Rox did not accept the IMI Offer by the deadline date, leading to an obligation to reimburse IMI Zinc for reasonable costs.
Based on the cost reimbursement, Rox and IMI Zinc agreed to release each other from all claims in relation to the IMI Offer.
For and behalf of the Board.
Richard Wadley Director.
IM Medical Limited T 03 9607 8280 Level 40 F 03 9607 8285 140 William St. Melbourne VIC 3000 Aust E [email protected] ACN 009 436 908 W immedical.com.au