Metals Exploration PLC Short Term Loans Update (8026L)
December 31 2018 - 4:15AM
UK Regulatory
TIDMMTL
RNS Number : 8026L
Metals Exploration PLC
31 December 2018
31 Dec 2018
METALS EXPLORATION PLC
Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the
"Company"), the natural resources exploration and development
company with assets in the Pacific Rim region.
Short Term Loans Update
On 22 November 2018 the Company announced that it is obliged to
consolidate four short term shareholders' loans into a Mezzanine
style single facility by 31 December 2018, as a condition
subsequent to MTL (Luxembourg) Sarl Limited and Runruno Holdings
Limited (together the "Lenders") providing an unsecured standby
loan facility of up to US $6.6million (the "Facility").
The consolidation is progressing but has not completed by 31
December 2018 and the Company is in default on this point. The
Company has applied for an extension of time until 31 January 2019
to complete the consolidation and awaits communication from the
Lenders. Further information will be provided when it becomes
available.
For further information please visit or contact
www.metalsexploration.com
Ian R. Holzberger (Executive Chairman) +63 (0) 9189 795 992
+61 (0) 418 886 165
Liam A. Ruddy (Company Secretary) +63 (0) 918 979 2931
+44 (0) 7904 200857
Andrew Rodgers (Chief Financial Officer) +61 412 429 856
Nominated Adviser and Broker: CANACCORD GENUITY LIMITED
Martin Davison, James Asensio +44 (0) 207 523 4689
Public Relations: TAVISTOCK
Barnaby Hayward, Jos Simson +44 (0) 207 920 3150
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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