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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2015
Jun 29, 2015
65020_rns_2015-06-29_5a4ad9ed-c5f8-4911-9fc2-7cadd182ed40.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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30 June 2015
Settlement of Livelynk Group Loan
On 15 January 2015, Lithex Resources Limited (“Lithex” or “Company”) ( ASX: LTX ) announced that, in conjunction with the vendor, Zhenya Holdings Pty Ltd, the Share Sale and Purchase Agreement pursuant to which the Company was to acquire the Mpire Media business was terminated.
Following the termination of the Share Sale and Purchase Agreement, the secured loan of $1.2 million between the Company and Livelynk Group Pty Ltd ( Livelynk ) remained in place with a repayment date of 31 March 2015. Interest at the rate of 7% per annum commenced with effect from 1 January 2015.
On 19 March 2015, the Company advised that it had reached an agreement with Livelynk to extend the repayment date of the secured loan to the earlier of:
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a) 30 June 2015;
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b) completion of the acquisition of Livelynk by a company whose shares are listed on the Australian Securities Exchange; and
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c) an event of default occurring.
In consideration for the Company agreeing to the variation of the loan agreement, Livelynk agreed to pay a facility extension fee of $5,000 per month from 1 April 2015.
In addition, Livelynk agreed to pay 50% of the costs incurred in relation to the Mpire Media Transaction. Of this, $50,000 was received on 20 January 2015, with the balance of $115,000 due on 30 June 2015.
The Company is pleased to announce, on 29 June 2015, Livelynk repaid the loan in full along with associated costs and interest. The total amount received was $1,372,745.
The Company remains in voluntary suspension pending the finalisation of matters in relation to a proposed acquisition and potential capital raising.
For further information please contact:
Peter Webse
Company Secretary Lithex Resources Limited (08) 9481 3860
Level 1, 330 Churchill Avenue, Subiaco 6008 P.O. Box 2015, Subiaco 6904 Website. www.lithex.com.au email: [email protected] Tel: 08 9200 5885
ACN: 140 316 463 ASX code: LTX