Moab Minerals Limited (ASX: MOM) (Moab or the Company) advises that Goldshore Investments Pty Ltd (Goldshore), a related party to Managing Director Mr Malcolm Day, has agreed to provide the Company with a short-term unsecured loan facility of $750,000 on arms’ length terms. The loan is notconvertible into shares and is repayable in cash.
The loan facility can be drawn down by the Company by 30 September 2024 with all funds from the loan to be applied towards working capital purposes of the Company.
The material terms of the loan facility agreement are as follows:
- Loan facility amount: $750,000
- Loan repayment date: 31 March 2025
- Interest rate: 10% per annum accruing daily to be paid at repayment
- Security: nil
- The agreement does not include any right to convert the loan to MOM shares
- The agreement also contains warranties standard for an agreement of this nature
This announcement is authorised by the Board of Directors.
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