Avesoro Resources - Loan Agreement
The Company intends to draw down a first tranche of
Related Party Transaction (AIM Rule 13)
AJL is a substantial shareholder of the Company (72.9% of the Company's issued and outstanding Common Shares). As a result, entering into the New Facility constitutes a related party transactions under the AIM Rules for Companies. The independent directors of the Company, being Mr David Netherway, Mr Jean-Guy Martin and Mr Loudon Owen consider, having consulted with the Company's Nominated Adviser, that the terms of the New Facility are fair and reasonable insofar as the Company's shareholders are concerned.
The entry into the New Facility is also a related party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101") in Canada. The Company is relying on the exemption available under section 5.7(f) of MI 61-101 from the minority shareholder approval requirements. The New Facility is not a type of related party transaction that is subject to the formal valuation requirement under MI 61-101.
Geoff Eyre / Nick Smith
Tel: +44(0) 20 3405 9160
(IR / Financial PR)
Gordon Poole / Nick Hennis
Tel: +44(0) 20 3757 4980
(Nominated Adviser and Joint Broker)
Christopher Raggett / Scott Mathieson / Camille Gochez
Tel: +44(0) 20 7220 0500
Matthew Armitt / Detlir Elezi
Tel: +44(0) 20 3207 7800
Avesoro Resources is a West Africa focused gold producer and development company that operates two gold mines across West Africa and is listed on the
For more information, please visit www.avesoro.com
Market Abuse Regulation (MAR) Disclosure
Certain information communicated in this announcement was, prior to its publication, inside information for the purposes of Article 7 of Regulation 596/2014.
This information is provided by RNS, the news service of the
Quick facts: Avesoro Resources
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