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GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2024
Jan 1, 2024
65008_rns_2024-01-01_3e6817ee-db9a-4944-b232-248af0d4640b.pdf
Capital/Financing Update
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ASX: GPR 2 January 2024
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Further $1.8M of Short-term Unsecured Funding Available
Key Points:
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Agreement with 2Invest AG to provide GPR with $1.8M of short-term, unsecured funding
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Follows previously announced agreement with Deutsche Balaton AG to extend repayment of the existing $3.5M of bonds to 29 March 2024[1]
Geopacific Resources Limited (ASX: GPR ) is pleased to advise that it has entered into a Bond Subscription Agreement with 2Invest AG, a member of the Deutsche Balaton Group, which will provide the Company with access to further short-term, unsecured funding.
Total funds available of $1.73 million (net of costs) will allow the Company to further advance the exploration program at Woodlark, whilst continuing to work on the recapitalisation of GPR.
Key Terms
| Key Terms | |
|---|---|
| Funding instruments | Bearer Bonds |
| Bond issuer | Geopacific |
| Bond holder | 2Invest AG |
| Issue Price | $1.73 million being 96% of the aggregate face value of the bearer bonds |
| Interest rate | 7.5% per annum from the date of issue |
| Drawdown date | 4 bearer bonds for issue at the election of Geopacific at any time before the Maturity Date |
| Maturity date | 29 March 2024 |
| Security | Unsecured |
This announcement was authorised by the Board of Geopacific.
| Company details | Board & Management | Projects | |
|---|---|---|---|
| Geopacific Resources Limited | Graham Ascough - Non-Executive Chairman | PAPUA NEW GUINEA | |
| ACN 003 208 393 | Hansjoerg Plaggemars - Non-Executive Director | Woodlark Island Gold | |
| ASX Code: GPR | Michael Brook - Non-Executive Director | ||
| [email protected] | Rowan Johnston - Non-Executive Director | ||
| http://www.geopacific.com.au | Hamish Bohannan - Non-Executive Director | ||
| T +61 8 6143 1820 | James Fox - CEO | ||
| Matthew Smith - CFO and Company Secretary | |||
| Head Office | |||
| Level 1, 278 Stirling Highway | Media – Paul Armstrong | ||
| Claremont WA 6010 | Read Corporate | ||
| PO Box 439, Claremont WA 6910 | +61 8 9388 1474 |
1 Refer ASX release on 27 December 2023 titled “Bond Repayment Deferred to 29 March 2024” for full details.
Geopacific Resources Limited