Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
West Leederville - European Lithium Limited (ASX: EUR, FRA: PF8, NEX: EUR, VSE:
ELI) (EUR or the Company) is pleased to confirm that it has received A $ 1.0m
(before expenses) under the A $ 10m finance facility previously established with
Winance Investment LLC (Winance) (refer ASX Announcement 31 July 2019).
On 5 March 2020, the Company announced that it had agreed to draw down a further
A $ 2.0m (2,000 convertible notes) under the Winance facility (Tranche 2), and
the notes were issued on 10 March 2020. Hhowever Tranche 2 funding was delayed
as a result of COVID-19, and as a result, the notes were held in escrow pending
receipt of funds. The Company is very pleased to confirm that A $ 1.0m (before
expenses) from Tranche 2 has now been received, and 1,000 notes have been
released from escrow.
Tony Sage, Chairman, commented "We are very pleased not only to have announced
Noble group as partners but also Winance in delivering on their promise to keep
funding the project. We have had a very good relationship even through the
COVID-19 lockdown ".
Waqas Ibrahim, CFO of Winance, commented "We are pleased, now that the COVID-19
restrictions have been eased, to release the funds under our existing facility
with European Lithium. We strongly believe the management of EUR can deliver on
bringing the Wolfsberg project into production ".
Full terms of the notes are set out in the Company's notice of annual general
meeting announced 8 October 2019.
This announcement has been authorized for release to the ASX by the Board of the
European Lithium Limited
end of announcement euro adhoc
Attachments with Announcement:
issuer: European Lithium Limited
Harrogate Street 32
AU-WA6007 West Leederville
phone: +61 8 6181 9792
stockmarkets: Frankfurt, Wien
Digital press kit: http://www.ots.at/pressemappe/31529/aom
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