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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2015
Mar 18, 2015
65020_rns_2015-03-18_554df9f6-994e-4ad5-9821-3de86dc1d525.pdf
Capital/Financing Update
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19 March 2015
ASX ANNOUNCEMENT
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EXPIRY DATE OF LOAN TO LIVELYNK GROUP EXTENDED
Lithex Resources Limited ( ASX: LTX ) ( Lithex or Company ) advises that it has reached an agreement with Livelynk Group Pty Ltd ( Borrower ) 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 the Borrower 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, the Borrower has agreed to pay a facility extension fee of $5,000 per month from 1 April 2015.
The date for the payment of the balance of the costs incurred in relation to the Mpire transaction amounting to $115,000 has been extended in line with the timeframe set out above.
The Board has agreed to the extension of the secured loan repayment date on the basis of its understanding that the vendor of Mpire Media is on the verge of signing an acquisition agreement with an ASX listed company. The Board believes that this course of action represents the best avenue for ensuring repayment of the secured loan and payment of costs.
The Company is considering and evaluating numerous investment opportunities that have been presented to it in recent months with a view to securing a project that will maximise value for its shareholders on favorable terms to Lithex, associated with current market conditions. In addition, the Company maintains its existing assets which it is re-evaluating.
Jason Peterson For and on behalf of Lithex Resources Limited
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