2 points here "optimistic of a positive outcome for all shareholders in the near future quickly followed by flagging a possible Equity Raise before Dec18...
Mr Russell Clark, Kasbah CEO, stated:
“We are very grateful for the ongoing support Pala demonstrates in Kasbah and the Achmmach Tin Project. Together with their support and support of our broader investor group, we remain extremely optimistic of a positive outcome for all shareholders in the near future”.
The material terms of the Pala Loan are as follows:
Increase in loan amount from A$1,000,000 to
A$3,000,000 (Total Loan Amount);
Total Loan Amount interest rate remains unchanged at
12% per annum;
Establishment fee of 1.5% on increased loan amount of
A$2,000,000; and
Extension of maturity date from 30 June 2018 to 31
December 2018 unless Kasbah completes an "EQUITY RAISE" prior to such maturity date, at which point the Pala Loan may be requested by Pala to be prepaid, in full or in part, concurrent with the completion of such equity raise. Kasbah continues to be able to prepay the Pala Loan at any time without restrictions or prepayment fees.
KAS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
