CHINA NONFERROUS GOLD: Execution of New Loan Agreement

TIDMCNG 
 
 

China Nonferrous Gold Limited

("CNG" or the "Company")

Execution of New Loan Agreement

China Nonferrous Gold Limited (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, is pleased to provide the following update:

Second Drandown of Banking Facility from China CITIC Bank Corporation Limited Zhuhai Branch

The Company has today completed a second drawdown of a banking facility from China CITIC Bank Corporation Limited (Zhuhai Branch) ("CITIC"). The details of this banking facility are set out in the announcement dated 22 January 2021. The total amount drawn down in this second draw down is US$14.55m (total amount now drawn down under this facility is US$34.55m). The funds from this drawdown will be used to repay the China Construction Bank (Asia) Corporation Limited loan of US $14.55m which is due for repayment in March 2021.

Summary of Current Financial Position

At the current time, loans drawn down by the Company amount to c. USD$328 million, this includes US$99.55m of banking facilities (unaudited).

For further information please visit the Company's website (www.cnfgold.com) or contact:

China Nonferrous Gold Limited

Zhang Hui, Managing Director

Tel: [phone]

WH Ireland Limited (NOMAD & Broker)

Katy Mitchell, James Sinclair-Ford

Tel: [phone]

Blytheweigh (PR)

Tim Blythe

Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

View source version on businesswire.com: https://www.businesswire.com/news/home/20210308005341/en/

 
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China Nonferrous Gold Limited

 
    SOURCE: China Nonferrous Gold Limited 
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(END) Dow Jones Newswires

March 08, 2021 04:58 ET (09:58 GMT)