Edenville Energy Plc (AIM: EDL), the AIM quoted company developing the Rukwa coal project in southwest Tanzania, announces that the second cash payment under the funding agreement (the “Funding Agreement”) with Lind Partners LLC (“Lind”) of US$50,637.38 was made on 30 August 2019. This follows the expiration of the repayment holiday that was described in the Company’s announcement of 29 April 2019.
A balance of US$934,087.50 remains outstanding under the Funding Agreement and is repayable on a monthly basis at an amount of US$50,637.38 per month. The Company’s intention is to satisfy subsequent repayments through cash rather than through the issuance of the Company’s ordinary shares to Lind.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Edenville Energy Plc
Jeff Malaihollo – Chairman
Alistair Muir – CEO
+44 (0) 20 3934 6630
Strand Hanson Limited
(Financial and Nominated Adviser)
James Harris
Rory Murphy
+44 (0) 20 7409 3494
IFC Advisory Limited
(Financial PR and IR)
Tim Metcalfe
Florence Chandler
+44 (0) 20 3934 6630
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