CleanTeq very recently executed a Senior Security Debt facility...

CleanTeq very recently executed a Senior Security Debt facility with Amal (Causeway) on very similar terms (CNQ announ 29 April).

Only difference I see is that PWN is paying a Finders Fee of 2.5% to Evolution Capital versus CNQ charged 3%

As a reminder PWN is paying:

Finders Fee to Evolution 2.5%
Establishment Fee to Amal 2%
Work Fee to Amal - "Standard Work Fee" Lets assume 0.5% to 1% of total facility

Interest on drawn to Amal 8+4.3 = 12.3%

Interest on undrawn = BBSW (4.3%)

Probably safe to assume that BBSW will stay at these levels over the next 12 months before we see a gradual easing of the RBA rate.


To be fair the T&Cs of this facility while a little generous to the lender, in terms of shareholder interest, it is certainly significantly more palatable than a highly dilutive capital raise at these depressed share price levels. It is just unfortunate that the big 4 Australian banks are not more amenable and flexible in their dealings with Australian small businesses.

Looking forward to the announcement for the next acquisition that has been alluded to recently, Maybe something in Queensland to support CSG brines operations?