AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

IONIC RARE EARTHS LIMITED Capital/Financing Update 2017

Aug 31, 2017

65151_rns_2017-08-31_82db87ee-9323-4f53-a80b-16c53b52dfe6.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

1 September 2017

STANDBY BRIDGING LOAN

Oro Verde Limited (ASX: OVL) ( Oro Verde or the Company ) is pleased to advise it has entered into a standby Bridging Loan Agreement. Principal terms of the agreement are:

Amount	Up to $500,000 on an as needs basis
Term	From 1stSeptember 2017 to 30 November 2017. To be extendedby mutual Consent
Interest	NAB Business Loan Base plus 2%, calculated daily
Security	Unsecured
Special Conditions	The lender has the right, subject to shareholder approvalsrequired, to receive shares as part or full repayment of amountsowed at a price that is 80% of the 30 day VWAP leading toshareholder approval.
Lender	Inkjar Pty Ltd a related party of Director, Mr Bradford Farrell

Funds drawn under the agreement will be used to advance the Company’s projects in Nicaragua as well as for general administrative expenses.

-ENDS

For further information, please contact:

Trevor Woolfe Managing Director Oro Verde Limited Ph: +61 411 127 837

Brett Dickson Finance Director Oro Verde Limited Ph:+61 8 9481 2555

Oro Verde Limited (ABN 84 083 646 477) Level 1, 34 Colin Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555