Edition:
United Kingdom

Chaarat Gold Secures Further Improved Terms On Acquisition Of Kapan By Co's Unit


Friday, 14 Dec 2018 

Dec 14 (Reuters) - Chaarat Gold Holdings Ltd ::SECURED FURTHER IMPROVED TERMS ON AGREED ACQUISITION OF KAPAN BY CO'S SUBSIDIARY.GORDON WYLIE, ALREADY A BOARD MEMBER, HAS BEEN APPOINTED AS DEPUTY CHAIRMAN.KAPAN'S VENDOR AGREED TO ACCEPT $10 MILLION OF $55 MILLION CONSIDERATION FOR KAPAN IN CONVERTIBLE NOTES OF CO, RATHER THAN $5 MILLION.ENTERED INTO COMMITTED REVOLVING TERM LOAN FACILITY AGREEMENT WITH LABRO INVESTMENTS LIMITED FOR A TOTAL AMOUNT OF $15 MILLION.POLYMETAL AGREED ITS RIGHT TO REQUIRE CGIL TO BUY LOAN NOTES WILL APPLY AFTER 19 MONTHS FROM DATE OF KAPAN DEAL CLOSE. 

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