MOAB Minerals

Director Loan

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.


Click here for the full ASX Release

This article includes content from MOAB Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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