Business
Loan Facility Agreement
Bradda Head Lithium Ltd has entered a short-term loan facility agreement with Galloway Limited for US$500,000. The funding will support the company in maintaining its good standing and will be used for general working capital purposes. The Galloway Facility has a one-year availability and repayment term and carries an interest rate of 12% per annum. The loan is unsecured and subject to accelerated repayment if the Company completes an equity fundraising during the term. The independent directors consider the terms of the Galloway Facility fair and reasonable for shareholders. Disclaimer*
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n\n25 September 2025\nBradda Head Lithium Limited\n(the \"Company\")\n Loan Facility Agreement\n \nBradda Head Lithium Limited (AIM:BHL), the North America-focused lithium development group, announces that it has entered into a short-term loan facility agreement (\"Galloway Facility\") with Galloway Limited, a related party. The funding is provided in connection with the undertaking made by Galloway Limited as noted in the statutory accounts for the year ending 28 February 2025 to provide support for the Company to maintain its good standing and will be used for general working capital purposes.\nA summary of the terms of the Galloway Facility is set out below:\n· US$ 500,000 facility made available (no fees or set-off or contribution to costs);\n· Drawn down at the request of the Company (subject to agreed use of proceeds with Galloway Limited);\n· One year availability and repayment term;\n· Unsecured;\n· Interest at 12% per annum;\n· Accelerated repayment if Company completes an equity fundraising during the term of the loan; and\n· Standard events of default and warranties from both parties.\nAIM Rule 13\nAs Jim Mellon and Denham Eke are both directors of the Company, and Jim Mellon is the 100% beneficial owner of Galloway Limited and Denham Eke its Managing Director, the provision of the Galloway Facility is a Related Party Transactions under the AIM Rules. Accordingly, the independent directors, being Ian Stalker, Alex Borrelli and Euan Jenkins, having consulted with the Group's Nominated Adviser, consider that the terms of the Galloway Facility are fair and reasonable insofar as the Company's shareholders are concerned.\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\nFor further information, please contact:\n \n\n\n\n\nBradda Head Lithium Limited\n\n\n \nBeaumont Cornish\n \n\n\nPanmure Liberum\n\n\nShard Capital\n\n\n \nTavistock\n \n\n\n\n\nCompany\n\n\nNomad\n\n\nJoi...