Latin Resources Limited – $2.5 MILLION OPTIONAL FINANCING AGREEMENT TO ADVANCE LITHIUM PROJECTS IN BRAZIL
If all LRSOC options are exercised, they would generate up to
Latin will repay the financing gradually with the proceeds of the LRSOC options as they are exercised, or sooner, at Latin’s option.
The funds will be used to accelerate activity on Latin’s lithium projects in
The OFA will be advanced to the Company, and Latin shall use all funds received from the exercise of the options (exercisable @
The key terms of the Options Funding Agreement are set out below:
If the Company has not paid to the Investor at least AUD 500,000 in LRSOC proceeds by the date falling 180 days after closing, the Company must pay to the Investor the amount corresponding to the total LRSOC proceeds paid by the Company to the Investor before that date. date are less than AU$500,000.
Although there is an unpaid amount, if the company receives the full proceeds from the issuance of any equity interest in the company, it must pay 20% of the total proceeds to the investor in immediately available funds in reduction of the unpaid amount.
On the Closing Date, the Company must grant and deliver to the Investor or its nominee 35,000,000 unlisted options with an exercise price
During the Closing, the Company must pay a Commitment Fee of 3% of the financing amount (
The Company may elect to prepay any unpaid amount without penalty. This announcement has been cleared for release to ASX by the Board of Directors
Phone. : +61 8 6117 4798
Senior Communications Advisor
Phone. : +61 8 6374 2907
Email: [email protected]
This ASX announcement may include forward-looking statements. These forward-looking statements are not historical facts, but rather are based on
Declaration of competent person
The information contained in this report regarding geological data and exploration results is based on information compiled by Mr.