Moab Minerals Restricted (ASX: MOM) (Moab or the Firm) advises that Goldshore Investments Pty Ltd (Goldshore), a associated social gathering to Managing Director Mr Malcolm Day, has agreed to supply the Firm with a short-term unsecured mortgage facility of $750,000 on arms’ size phrases. The mortgage is notconvertible into shares and is repayable in money.
The mortgage facility will be drawn down by the Firm by 30 September 2024 with all funds from the mortgage to be utilized in direction of working capital functions of the Firm.
The fabric phrases of the mortgage facility settlement are as follows:
- Mortgage facility quantity: $750,000
- Mortgage compensation date: 31 March 2025
- Rate of interest: 10% every year accruing each day to be paid at compensation
- Safety: nil
- The settlement doesn’t embrace any proper to transform the mortgage to MOM shares
- The settlement additionally incorporates warranties commonplace for an settlement of this nature
This announcement is authorised by the Board of Administrators.
Click on right here for the complete ASX Launch
This text contains content material from MOAB Minerals, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data supplied right here. Please check with our full disclaimer right here.