MRG murray river organics group limited
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News: MRG Murray River Organics Says Murray River Organics Group To Amend Existing Facility With NAB

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    27/12/19
    12:10
    Post #: 42137827

    Dec 27 (Reuters) - Murray River Organics Ltd (MRG) :

    • MURRAY RIVER ORGANICS GROUP LIMITED AGREES AMENDMENT TO EXISTING FACILITY WITH ITS FINANCIER, NATIONAL AUSTRALIA BANK LTD
    • UNDER TERMS OF AMENDED FACILITY, NAB HAS AGREED TO ACCELERATE DRAWDOWN OF $4M IN TWO TRANCHES
    • AGREEMENT BRINGS FORWARD SHORT TERM FUNDING ALLOWING CO TO PROGRESS FY20 HARVEST, CONTINUE TO FUND BUSINESS OPERATIONS
    • CO HAS ALSO STARTED TO EXPLORE PARTNERSHIP ARRANGEMENTS REGARDING SIGNIFICANT VACANT ARABLE LAND AT ITS NANGILOC PROPERTY
    • EQUITY CAPITAL RAISING IS EXPECTED TO BE FOR A MINIMUM OF $20M
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