GobiMin Extended a Loan Agreement
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/06/17 -- GobiMin Inc. (TSX VENTURE: GMN) (the "Company" or "GobiMin") announces that it agrees to extend the repayment term from April 6, 2017 to October 6, 2017 with respect to a USD4,000,000 revolving, term loan facility bearing an interest rate of 3.5% per annum (the "Loan") in favor of China Precision Material Limited ("CPML"), a non-arm''s length party. All the other terms of the loan agreement remain unchanged. GobiMin may demand repayment of principal and interest anytime with a 3 days'' notice.
The outstanding principal amount of the Loan is currently USD3,500,000.
GobiMin owns a 10.06% indirect equity interest in CPML which engages in the trading of metals, predominately silver, in Hong Kong.
The Loan is considered a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for exemptions from the formal valuation and minority approval requirements under MI 61-101, as the amount of the Loan to CPML does not exceed 25% of the Corporation''s market capitalization.
Extension of the Loan is subject to receipt of all applicable regulatory and exchange approvals.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
To receive GobiMin press releases by email, send a message to and specify "GobiMin press releases" on the subject line.
To unsubscribe GobiMin press releases, please send a message to
Contacts:
GobiMin Inc.
Felipe Tan
Chief Executive Officer
Tel: (852) 3586-6500
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2017 - 06:00 Uhr
Sprache: Deutsch
News-ID 1497154
Anzahl Zeichen: 3497
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Advertising, PR and Marketing
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 149 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"GobiMin Extended a Loan Agreement
"
steht unter der journalistisch-redaktionellen Verantwortung von
GobiMin Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
