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RBX Robex Resources Inc

2.55
0.05 (2.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Robex Resources Inc TSXV:RBX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 2.00% 2.55 2.20 2.80 2.70 2.55 2.70 5,200 21:13:50

Robex Secures Temporary Financing of $5 Million for the Nampala Mine

08/05/2014 3:42pm

Marketwired Canada


Robex Resources inc. ("Robex" or the "Company") (TSX VENTURE:RBX)(FRANKFURT:RB4)
confirms the closing of a CDN$5 million revolving credit facility (the "Credit
Facility") provided by Mr. Georges Cohen, President and CEO of the Company. The
purpose of the Credit Facility is to meet the cash flow needs of the Company as
it prepares to enter into the production phase of its Nampala mine in Mali (the
"Mine"), to support capital expenditures, and to purchase gold production
equipment. 


The Credit Facility will provide the Company a temporary source of financing in
order to allow its subsidiary, Nampala S.A., to begin the production phase of
the Mine, which is expected to occur in June 2014. The Company also requires the
temporary financing to enable the Mine to achieve its full capacity, which is
expected to occur during the third quarter of this year. 


The Credit Facility has a term of one (1) year, bears an interest rate of 8% per
year, and is renewable on an annual basis. Monthly payments on the Credit
Facility are for interest only, on the portion of the capital used by Company,
and the Company can elect to repay the Credit Facility early without penalty. 


The Company granted a first rank hypothec on the present and future movable
property of the Company as security for the Credit Facility. 


A material change report has concurrently been filed by the Company which is
less than 21 days prior to the closing of the financing. This is explained by
the immediate cash flow needs of Nampala S.A. which otherwise would have delayed
the achievement of the Company's production objectives. 


Robex Resources Inc. on social networks : Twitter, Linkedin et Viadeo 

This press release contains statements that may constitute "forward-looking
information" or "forward-looking statements" as set out within the context of
security law. This forward-looking information is subject to many risks and
uncertainties, some of which are beyond Robex Inc.'s ("Robex") control. The
actual results or conclusions may differ considerably from those that have been
set out, or intimated, in this forward-looking information. There are many
factors which may cause such disparity, especially the instability of metal
market prices, the results of fluctuations in foreign currency exchange rates or
in interest rates, poorly estimated reserves, environmental risks (stricter
regulations), unforeseen geological situations, unfavourable extraction
conditions, political risks brought on by mining in developing countries,
regulatory and governmental policy changes (laws and policies), failure to
obtain the requisite permits and approvals from government bodies, or any other
risk relating to mining and development. There is no guarantee that the
circumstances anticipated in this forward-looking information will occur, or if
they do occur, how they will benefit Robex. The forward-looking information is
based on the estimates and opinions of Robex's management at the time of the
publication of the information and Robex does not assume any obligation to make
public updates or modifications to any of the forward-looking statements,
whether as a result of new information, future events, or any other cause,
except if it is required by securities laws.


The TSX Venture Exchange or its Regulation Services Provider (as defined in the
policies of the TSX Venture Exchange) accepts no liability for the authenticity
or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Augustin Rousselet
Chief Financial Officer
info@robexgold.com
+1.581.741-7421

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