Globe Metals & Mining Limited (ASX: GBE) ('Globe' or 'Company') refers to its announcement on 4 December 2024 titled 'Globe signs pre-development funding Term Sheet for Kanyika' (Announcement) which advised that the Company had signed a non-binding Term Sheet with The Industrial Development Corporation, owned by the South African Government, for a convertible loan of approximately USD 10 million to support the Kanyika Niobium Project (Loan).
The Company provides the following additional information in respect of the Announcement: The security for the Loan is wholly over the assets of Project HoldCo, supported by a corporate guarantee from Globe's wholly owned UK subsidiary, Globe Metals & Mining UK Limited.
The Company anticipates that the binding loan agreement will be signed by the parties in or about March 2025. The Loan is also subject to the ASX Listing Rules (including LR 6.1 requirements).
The proposed timetable for drawdowns of the Loan is as follows: (a) Tranche 1 - May 2025 (USD 2.810 million); (b) Tranche 2 - July 2025 (USD 2.481 million); Tranche 3 - August 2025 (USD 4.040 million) and (d) Tranche 4 - September 2025 (USD 749,000).
This announcement has been authorised for release by the Company's Chief Executive Officer, Paul
Contact:
Paul Smith
Chief Executive Officer
Tel: +61 8 6118 7240
Email: paul.smith@globemm.com
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