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GLOBE METALS & MINING LIMITED — Capital/Financing Update 2023
Apr 18, 2023
64965_rns_2023-04-18_93512986-20a0-4c50-a8eb-489ea28da65a.pdf
Capital/Financing Update
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19 April 2023
Mr Sam Dorland Adviser, Listings Compliance Australian Securities Exchange Level 40, Central Park 152–158 St Georges Terrace Perth WA 6000
Dear Mr Dorland,
Variation of Loan Facility with Director Bo Tan
Globe Metals & Mining Limited (ASX: GBE) (“ Globe ” or “ Company ”) refers to the announcement lodged with ASX on 27 September 2022 and wishes to advise that it has reached an agreement with Director Bo Tan to extend the due date for repayment of his loan facility, by a further 6 months, to 18 October 2023.
A condition of the extension is that the facility limit is reduced to A$400,000 (previously A$500,000). All other terms of the loan facility remain the same.
Consequently, Resolution 2 in the Company’s Notice of General Meeting dated 6 March 2023, in relation to the shareholders’ meeting to be held today, will be withdrawn from the agenda.
The Board wishes to acknowledge the continued support shown by Mr Tan and his strong ongoing commitment to the Company. The Board also notes that the Group’s cashflow forecasts reflect that the Group will be required to raise additional working capital within the next 6 months to enable it to continue to progress the financing and development of the Kanyika Project. To this end, the Board continues to evaluate further fund raising from internal and external parties and will update the market of any steps it decides to take at the appropriate time.
This announcement was approved by the Board of the Company.
For further information contact:
Grant Hudson Paul Hardie Chief Executive Officer Company Secretary [email protected] [email protected]
Globe Metals & Mining Limited | 45 Ventnor Avenue, West Perth WA 6005 | PO Box 1811, West Perth WA 6872 | P: +61 6118 7240 | F: +61 8 6323 0418 www.globemm.com | Email: [email protected] | ABN 33 114 400 609 | ASX: GBE