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0.4¢ adelong gold limited

Does Cosmo have any cash? Will ADG see this money back or just...

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252 Posts.

28

15/03/23

12:58

Post #: 66777224
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Originally posted by Jenduplex: ↑

On 16 November 2020, the Company entered into a loan agreement with Cosmo Gold Limited on the assumption that an initial public offering of
securities of Cosmo Gold (IPO) and subsequent listing on ASX would be completed. The IPO has now been formally withdrawn by Cosmo Gold
Limited.
The loan agreement was originally extended to 31 December 2022 and was subsequently further extended to 31 March 2023. Terms of the loan
agreement are as follows:
- loan facility provided is up to AUD $1.25 million;
- repayment of the facility is secured by the General Security Deed;
- repayment terms are as follows:
(a) immediately upon the occurrence of an Event of Default; or
(b) on 31 March 2023
whichever occurs first
Event of Default occurs on the happening of any of the following:
Weighted average number of ordinary shares outstanding during the
reporting period used in calculating basic EPS
Losses used to calculate basic EPS
Consolidated Group
Cosmo Gold failing to pay any of the monies required to be paid under the agreement at the time or in a manner required under the
Agreement

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Does Cosmo have any cash? Will ADG see this money back or just need to write off the debt?

ADG Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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