Hi guys a great week for the advancement of the Lindi project and funding front...The First-mover advantage is approaching without too many Chocolates available...
Ask 180 markets about this...Sorry no thanks $$$ We will be fine.
Following this, the company has progressed both on funding and funding reduction. How low will it go...Tick tock
G. The Company is awaiting 3 other term sheets for project funding from counter-parties that are under advanced negotiation. These additional term sheets are expected to be received within 2 weeks. 28th February
TNR PROVIDES VENDOR FINANCE TO LINDI JUMBO
Through the binding agreement Lindi Jumbo is required pay TNR in cash at least the lesser of (1) US$ 250,000
and (2) the actual amount of each invoice amount. The balance of the invoice amount will form the TNR
deferred consideration of up to US$1.4 million. The total of monthly cash payments to be made by Lindi Jumbo
to TNR during this period is not expected to exceed US$1.5 million.
The Company expects that funding of the first couple of months' obligations under the agreement will be funded by a Director Bridging Loan, further
details will be announced shortly.
Regards Croc (Within 2 weeks...$$$)
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- Ann: TNR Provides Vendor Finance to Lindi Jumbo
Ann: TNR Provides Vendor Finance to Lindi Jumbo, page-106
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