Business
Loan Agreement
Loan Agreement.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n RNS Number : 8996S Red Rock Resources plc 17 September 2010 \n \n\nRED ROCK RESOURCES PLC\nLoan Agreement\nDated: 17 September 2010\n \nRed Rock Resources plc (\"Red Rock\" or the \"Company\") announces that it has entered into a loan agreement with YA Global Master SPV Limited ('YA Global'), which is advised by Yorkville Advisors LLC.\n \nUnder the agreement Red Rock has borrowed $1,200,000 from YA Global. The loan carries interest at 12% p.a. and is repayable in full by 31 January 2011. The loan is secured under the Standby Equity Distribution Agreement ('SEDA') between Red Rock and YA Global announced on 1 May 2009 and by security over certain liquid assets of Red Rock.\n \nThe loan will be used to finance Red Rock's Colombian investment in Mineras Four Points SA under the Funding and Co-operation Agreement announced on 10 June 2010 after payment of arrangement fees and the repayment of the outstanding US$448,370 balance of the Company's previous US$1.6 million loan agreement with YA Global announced on 28 April 2010.\n \nEnquiries:\n \n\n\n\n\nRed Rock Resources plc\n\n\n\n\n\n\n\n\n\n\n\n\n\nAndrew Bell, Chairman\n\n\n0207 402 4580/07766 474849\n\n\n\n\n\n\n\n\n\n\nSandra Spencer, Public and Investor Relations\n\n\n0207 402 4580/07757 660 798\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\n\n\n\n\n\n\nReligare Capital Markets \n\n\n\n\n\n\n\n\n\n\n\n\n\nPeter Trevelyan-Clark/Ben Jeynes\n\n\n020 7444 0800\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBroker\n\n\n\n\n\n\n\n\n\n\n\n\n\nSimple Investments Ltd\n\n\n\n\n\n\n\n\n\n\n\n\n\nNick Emerson/Renato Rufus\n\n\n01483 413500\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nUpdates on the Company's activities are regularly posted on its website, www.rrrplc.com.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRKKODKBBKDQCD \n ","length":6323,"tagName":"div"}]