Monday 15 D Day for LOCKE MATTER or will there be another EXTENSION...LMAO Or another PATHWAY....LMAO.... Further Extension of Exclusive Due Diligence Period for US$20 Million Facility with Locke
AVZ Minerals Limited (AVZ or Company) refers to its prior announcements: • on 17 November 2023 outlining the Binding Term Sheet (Term Sheet) agreed between AVZ and Locke Capital I, LLC and its investment manager, Locke Capital Limited (Locke) to provide a pathway for the execution of a formal agreement for a general working capital and litigation funding facility of up to US$20,000,000; and • on 2 April 2024 regarding an extension of the exclusive due diligence period to 31 May 2024.
The Company advises that it continues to work closely with Locke to close out a relatively small number of outstanding issues to finalise the litigation funding facility.
To enable the parties sufficient time to agree the facility documents, the Company and Locke have agreed to extend the exclusivity period to 15 July 2024.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Held
