23 Sep

Loan Facility Agreement

International Mining & Infrastructure Corporation plc (AIM: IMIC), the Company focused on unlocking the value of iron ore in Africa, is pleased to announce that it has entered into an unsecured loan facility agreement (“Loan Agreement”) with Heretown Securities Corporation Ltd which provides a loan facility of up to a maximum of USD $1,000,000 (the “Loan”) for working capital purposes.

Under the Loan Agreement, the Loan may be drawn down in tranches of varying amounts, where any amounts drawn down and subsequently repaid cannot be redrawn. The Loan shall be repayable by 31 December 2015 and shall bear interest at a rate of 10% per annum which shall be paid together with the capital sum of the Loan at the end of the loan facility period. The Loan may be extended by mutual agreement. 

Full announcement...