Business
Loan Agreement
Loan Agreement.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 6726I Regency Mines PLC 17 June 2011 \n \n\nREGENCY MINES PLC\nLoan Agreement\nDated: 17 June 2011\n \nRegency Mines plc (\"Regency Mines\" or the \"Company\"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, announces that it has entered into a loan agreement with YA Global Master SPV Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC (the \"Loan Agreement\").\n \nUnder the terms of the Loan Agreement the Company has agreed to borrow US$3,300,000 from YA Global. The loan carries interest at 6% p.a. and is to be repaid in scheduled installments within 15 months of drawdown. The loan is secured under a Standby Equity Distribution Agreement ('SEDA') between Red Rock and YA Global entered into on 9 September 2009 and amended on 10 June 2011, and by security over 85,000,000 ordinary 0.1p shares in Red Rock Resources plc held by the Company.\n \nThe net loan proceeds of US$2,854,862 will be used to meet working capital requirements and to advance the Company's joint venture with Direct Nickel Ltd.\n \n \nEnquiries:\n \n\n\n\n\nAndrew Bell\n\n\n0207 402 4580 or\n07766 474849\n \n\n\nRegency Mines plc \n\n\nChairman\n\n\n\n\nSandra Spencer\n\n\n020 7402 4580 or\n07757 660 798\n \n\n\nRegency Mines plc\n\n\nPublic and Investor Relations\n\n\n\n\nPeter Trevelyan Clark / \nBen Jeynes\n \n\n\n020 7489 4500\n\n\nReligare Capital Markets\n \n\n\nNominated Adviser\n\n\n\n\nNick Emerson\n\n\n01483 413500\n\n\nSimple Investments Ltd\n \n\n\nBroker\n\n\n\n\n \nUpdates on the Company's activities are regularly posted on its website, www.regency-mines.com.\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUBSORAUANAAR \n ","length":4749,"tagName":"div"}]