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"Mawson West Ltd is an Australian-based copper producer, developer and explorer. It is engaged in the production of copper and silver concentrate production, mineral exploration and development in the Democratic Republic of the Congo."

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Mawson West Ltd Ord > Mawson West Closes Financing and Debt Restructuring Package

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Post by CQCmaster on Dec 19, 2014 11:13am

Mawson West Closes Financing and Debt Restructuring Package

Highlights:

C$5 million private placement by Mawson West of 41.67 million shares at a price of C$0.12 per share to the Galena Private Equity Resources Fund LP;
US$10 million secured loan facility from Galena to Mawson West, repayable in September 2017, with interest of 12% per annum, with 75.76 million warrants exercisable at C$0.15 issued to Galena;
US$5 million unsecured bridge loan from Galena to Mawson West, repayable on or before 28 February 2015, with interest of 12% per annum, with 7.58 million warrants exercisable at C$0.15 issued to Galena;
Galena to backstop Mawson West by agreeing to purchase additional shares for a minimum of C$8.64 million and up to C$21.6 million at a price of C$0.12 per share under contemplated future financing efforts by Mawson West; and
Maturity Date of the Trafigura Prepayment Facility extended by 9 months to June 2017, US$19m in repayments deferred and flexibility of proceeds account structure increased to assist with cashflow.