1st Apr 2009 07:00
AIM: EMED 1 April 2009
Satisfaction of Conditions Precedent for Drawdown of Tranche A of Convertible Loan
EMED Mining Public Limited (the "Company") is pleased to announce that all conditions precedent have now been met to allow the drawdown of the initial US$2 million (Tranche A) of its previously announced secured convertible loan facility with Resource Capital Fund IV L.P. ("RCF") and RMB Australia Holdings Limited ("RMB"). The Company intends to immediately drawdown the US$2 million to repay a previously advanced bridging loan from RCF and RMB and to provide working capital.
The drawdown of the US$6.5 million (Tranche B) balance of this loan remains subject to various conditions including RCF and RMB being satisfied with the status of the Company's resolution of a number of issues associated with the Proyecto de Rio Tinto.
The Company also announces that it has now concluded the amendments to its existing arrangements with YA Global Investments L.P. and Marc Rich + Co. Investment A.G. which were detailed in the Company's circular to shareholders dated 5 March 2009.
Enquiries
|
EMED Mining |
Fox-Davies Capital |
RFC Corporate Finance |
Bishopsgate Communications |
|
Harry Anagnostaras-Adams |
Jason Bahnsen |
Stuart Laing |
Nick Rome |
|
+357 9945 7843 |
+44 (0)207 936 5230 |
+618 9480 2500 |
+44 (0)207 562 3350 |
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