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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2014
Aug 4, 2014
65020_rns_2014-08-04_23fe3bc1-e8d5-4264-ac9e-e90bdd74363e.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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5 August 2014
UPDATE ON LOAN AGREEMENT
As announced on 10 July 2014, Lithex Resources Limited (“Lithex” or “Company”) ( ASX: LTX ) has entered into a binding Heads of Agreement with Livelynk Group Pty Limited (“ Livelynk ”) and Zhenya Holdings Pty Limited to acquire the Mpire Media business (“ Mpire Media ”), which is an established performance-based marketing business.
Associated with the transaction is the provision of a secured loan to Livelynk of up to $1,200,000 (“ Loan ”). The terms of the loan include, amongst other things, conditions precedent that the drawdown of funds under the loan is subject to:
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The Company registering security over the assets of Livelynk;
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The completion of a placement to new sophisticated investors to raise up to $283,000 (before costs); and
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The completion of a Rights Issue to the Company’s shareholders to raise up to $542,000 (before costs) at 2 cents per share on a pre-consolidation basis.
The Company has successfully registered security over the assets of Livelynk, and has completed a placement of 14,152,950 shares to sophisticated investors to raise a total of $283,059. The Company is currently working with its advisers towards completing the Rights Issue prospectus. The Rights Issue will be fully underwritten by CPS Capital Group Pty Ltd.
Following discussions between the Company and Livelynk, the Company has agreed to partially waive the condition precedent requiring the successful completion of the Rights Issue before any drawdown of funds by Livelynk. The variation provides that Livelynk is able to drawdown up to $600,000 under the Loan prior to completion of the Rights Issue.
All other terms of the Loan remain unchanged.
Livelynk intends to utilise the Loan drawdowns to fund Mpire Media’s ongoing growth and development initiatives.
For further information please contact:
Peter Webse
Company Secretary Lithex Resources Limited (08) 9481 3860
22 Lindsay Street, PERTH WA 6000 P.O. Box 7044, CLOISTERS SQUARE PO, WA 6850 Website. www.lithex.com.au email: [email protected] Tel: 08 9200 5885
ACN: 140 316 463 ASX code: LTX