Hope as a SH and MAYBE others WE haven't been SUCKED in by management and put in this MESS...imo Seems we are NOT going to receive a Announcement in regards to the LOCKE DEAL update....IMO.. No update to the TIA issue..!..
Extension of Exclusive Due Diligence Period for a Funding Facility of up to US$20,000,000
As previously announced on 17 November 2023, the Company signed a Binding Term Sheet (Term Sheet) 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 (Funding Facility) with Locke Capital I, LLC and its investment manager Locke Capital Limited (Locke). Locke has substantially advanced its due diligence process.
To enable the parties sufficient time to seek final approvals and negotiate and agree the facility documents, an extension to the Term Sheet from 31 March 2024 to 31 May 202413 was agreed during the March 2024 quarter, with the aim of executing a formal agreement for the Funding Facility as soon as practicably possible. Locke has affirmed it remains committed to progressing the facility on terms consistent with the Term Sheet, subject to successful finalisation of diligence, final approvals, and negotiating and agreeing facility documents.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Held