A$12m MBL Facility - Tranche 1 proceeds of A$8m received
Perth, Mar 6, 2013 AEST (ABN Newswire) - Western Australian focused uranium developer, Toro Energy Limited (
ASX:TOE), is pleased to announce that it has received A$8 million from the drawdown of Tranche 1 of a A$12 million convertible debt facility ("Facility") with Macquarie Bank.
A further tranche of A$4 million is available to be drawn down until 30 June 2013, subject to Federal Government environmental approval being in place for the Company's wholly owned and advanced Wiluna uranium project in Western Australia.
As part of the Tranche 1 transaction, Macquarie Bank has been issued 42,253,521 three year options in Toro at an exercise price of A$0.142 per option.
Further details regarding the terms of the Facility were outlined in the Toro ASX announcement of 31 October 2012.
Contact
Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au
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