Titan Minerals Limited (ASX: TTM) (“Titan” refers to its previous ASX announcements dated 9 December, 16 December
and 24 December 2019, and is pleased to advise that it has entered into an unsecured debt facility (“Loan Facility” with
RM Hunter Fund Pty Ltd, an entity controlled by Mr Raymond Meadowcroft, an experienced debt funding investor
(“Lender”.
The key terms of the Loan Facility are:
• the amount available to be drawn is US$10 million;
• amounts drawn may be repaid and redrawn over the term;
• the term is 12 months (with the repayment date being 31/12/2020);
• the interest rate on amounts drawn is 12% per annum (and no interest or fees accrue on undrawn amounts);
• Titan can use the amounts drawn as it chooses;
• no security has been, or is required to be, provided to the Lenders in connection with the Loan Facility; and
• as consideration for the Lenders agreeing to provide the Loan Facility, Titan has agreed (subject to receiving all
required shareholder approvals) to issue to the Lenders fully paid ordinary shares in Titan having an aggregate
value equal to US$500,000, which is 5% of the total loan amount. If Titan does not receive all required shareholder
approvals for those shares to be issued to the Lenders, then Titan must instead pay a US$500,000 fee to the
Lenders in cash.
Titan wishes to advise that the Loan Facility and the fully underwritten $3.5million placement (refer to the ASX
announcement dated 16 December 2019 for further details) satisfy the covenants under the lock-up agreements (refer to
the ASX announcement dated 9 December 2019 for further details).
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Last
3.2¢ |
Change
-0.002(5.88%) |
Mkt cap ! $58.16M |
Open | High | Low | Value | Volume |
3.4¢ | 3.4¢ | 3.2¢ | $63.15K | 1.909M |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 137467 | 3.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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3.4¢ | 650000 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 137467 | 0.032 |
5 | 496773 | 0.031 |
7 | 5355233 | 0.030 |
4 | 746815 | 0.029 |
2 | 230000 | 0.028 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 650000 | 2 |
0.035 | 1565625 | 4 |
0.036 | 1246143 | 6 |
0.037 | 1124410 | 8 |
0.038 | 200000 | 1 |
Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
3.2¢ |
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Change
-0.002 ( 8.57 %) |
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Open | High | Low | Volume | ||
3.3¢ | 3.3¢ | 3.2¢ | 726938 | ||
Last updated 15.51pm 07/06/2024 ? |
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