Business
Revolving Credit Facility Agreement
Revolving Credit Facility Agreement.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \n \n 9 March 2023\n \n \n \n \n \n \n Anglo Asian Mining PLC\n \n \n \n \n Revolving Credit Facility Agreement\n \n \n \n \n \n \n \n \n Anglo Asian Mining PLC (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce\n it has signed an agreement for a new AZN 55 million (US$32.3 million) revolving credit facility (the \"Facility\") with the International Bank of Azerbaijan.\n \n \n \n \n \n The seven-year revolving credit facility was entered into through Anglo Asian's wholly owned operating subsidiary, Azerbaijan International Mining Company (\"AIMC\"). It will provide both additional finance and operational flexibility for the Company's expansion plans. No drawdown has currently been made from the facility. The main terms of the Facility are set out below in Appendix One.\n \n \n \n \n \n The agreement represents another important step in Anglo Asian preparing for the implementation of its medium-term growth plans, culminating in establishing the Company as a mid-tier copper-focused mining company. These plans will be published later this month.\n \n \n \n \n \n \n Anglo Asian, CEO Reza Vaziri, commented:\n \n \n \n \n \"We are pleased to sign a new revolving credit facility with the International Bank of Azerbaijan, another milestone in the preparation of rolling out our medium-term operational expansion plans. The facility was negotiated on a non-secured basis which demonstrates the confidence of local Azeri financial institutions in our business. We see considerable potential across our portfolio of exploration and development stage assets and look forward to driving the Company's progression with this additional capital support.\"\n \n \n \n \n \n \n \n \n \n All references to \"AZN\" are to Azerbaijan Manat. An exchange rate of US$1 = AZN1.7 has been used.\n \n \n \n \n \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \n \n \n Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.\n \n \n \n \n \n \n For further information please contact:\n \n \n \n...