TSXV:KGL.H - Post by User
Post by
edm1996on Aug 19, 2018 5:18pm
105 Views
Post# 28484213
debt repayment
debt repayment Kilo Goldmines Ltd. and its direct subsidiary, Kilo Goldmines Inc. have entered into a loan agreement for a $750,000 (Australian) secured term credit facility from major shareholder Resolute (Treasury) Pty. Ltd., a subsidiary of Australian Securities Exchange-listed Resolute Mining Ltd., which is headquartered in Perth, Australia.
The credit facility is secured against all assets and undertaking of the borrowers, including a pledge of the shares of Kilo Inc. to Resolute. Draws under the credit facility bear interest at the rate of 10 per cent per annum (subject to reduction at the discretion of Resolute) and must be repaid by Dec. 14, 2018 (subject to the right of the borrowers to extend repayment for a period of 30 days in certain circumstances). The first $500,000 (Australian) of the credit facility is available upon the satisfaction of all loan conditions, and the remaining $250,000 (Australian) will be available only at the discretion of Resolute. Kilo intends to draw down $500,000 (Australian) of the credit facility immediately.
with a repayment date set like that one would expect they have a plan. it was a finatial intitution who dumped the 7.5 million shares earlier this year that brought the price down and that institution or person still has 13 million warants as to posibally purchase. ther are a bunch of warants due dec 2018