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COMPLII FINTECH SOLUTIONS LTD — Capital/Financing Update 2013
Jun 5, 2013
64639_rns_2013-06-05_990c02d7-dd91-459e-a199-f5fc56873e91.pdf
Capital/Financing Update
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Resource Star Limited Level 9, 440 Collins Street, Melbourne Vic 3000 P. +61 3 9607 1322 F. +61 3 9607 1329 www.ResourceStar.com.au ABN 71 098 238 585
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6 June 2013
ASX Announcement
Resource Star secures $500,000 convertible note facility
The Board of Resource Star Limited (ASX: RSL) ( the Company ) is pleased to advise the market and shareholders that is has entered into a binding $500,000 convertible note facility agreement with local private investment firm, Fernshaw Securities.
Fernshaw Securities is a private equity and investment advisory firm located in Australia with an extensive array of capabilities in equity and debt capital raising, corporate advisory and equity sales.
The core terms of the facility are as follows:
| Facility provider | Fernshaw Securities Pty Ltd |
|---|---|
| Facility type | Loan note facility |
| Facility commitment | $500,000 |
| Purpose of facility | General working capital |
| Term | 12 months from date of issue of Notes |
| Drawdown | Initial drawdown of $100,000 and may be subsequently |
| drawndown in multiples of up to $50,000 | |
| Face Value of Notes | $1.00 |
| Conversion Price | $0.0125 (1 Note = 80 Shares) |
| Maturity Date | 12 months from date of Issue of Note. |
| Interest on Notes | 5.5% per annum, calculated on daily basis on Face Value |
| of Notes, payable six-monthly in arrears and can be paid | |
| by payment of cash or the issue of shares at $0.0125 |
Resource Star Limited Level 9, 440 Collins Street, Melbourne Vic 3000 P. +61 3 9607 1322 F. +61 3 9607 1329 www.ResourceStar.com.au ABN 71 098 238 585
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| Transferability | Notes can be transferred upon notice to Company. |
|---|---|
| Security and ranking | Notes are unsecured, and rank for repayment of principal |
| equally with all other creditors of Company. |
Executive Director, Chris Burrell said today “We are pleased to have secured this strategic relationship and investment with Fernshaw Securities. This investment will enable Resource Star to continue its current restructuring activities and look at new business opportunities within the industry.”
For further information, please contact:
Chris Burrell Executive Director +61 (0)417 832 153