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DGR GLOBAL LIMITED — Capital/Financing Update 2014
Nov 27, 2014
64771_rns_2014-11-27_2b0d2e0b-a7c6-4d5d-9eab-7af9e503bd9e.pdf
Capital/Financing Update
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DGR Global Limited
28 November 2014
ASX Announcement
DGR Global Executes Loan Facility Agreement
The Board of Directors of DGR Global Limited (DGR Global, the Company, ASX:DGR) is pleased to advise that the Company has entered into a short term secured CAD2m debt facility with Maxit Capital LP on commercially appropriate terms. The facility has been guaranteed by Mr Nicholas Mather, a Director and major shareholder of the Company.
As previously announced, DGR Global’s Board and management have been working diligently on a strategy to explore debt‐based funding options for financing the Company’s generative and development program without resorting to either premature asset sales or cheap equity issues to cover planned expenditures and working capital, whilst the overall maturation of its current asset base continues.
DGR Global Chairman Bill Stubbs said:
“In line with our announced strategy, a number of debt facilities have been reviewed by us over the course of the year, but the recently announced 65 cents per share cash offer for the take‐over of Orbis Gold has enabled us to modify our plans in this regard. The loan facility via Maxit Capital LP will allow DGR Global to continue to further develop its company and project pipeline whilst the take‐over of Orbis Gold continues to play out.”
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On behalf of the Board Karl Schlobohm Company Secretary
Email: [email protected]
Electronic copies and more information are available on the Company website: www.dgrglobal.com
For further information contact:
Mr Nicholas Mather Managing Director DGR Global Ltd Ph: 07 3303 0680
Karl Schlobohm Company Secretary, DGR Global Ltd Ph: 07 3303 0680