Edenville Energy Plc, the AIM quoted company developing the Rukwa coal project in Southwest Tanzania, has announced that the second cash payment under the funding agreement with Lind Partners LLC of US$50 637.38 was made on 30 August 2019.
This follows the expiration of the repayment holiday that was described in the company’s announcement of 29 April 2019.
A balance of US$934 087.50 remains outstanding under the funding agreement and is repayable on a monthly basis at an amount of US$50 637.38/month. The company’s intention is to satisfy subsequent repayments through cash rather than through the issuance of the company’s ordinary shares to Lind.
Read the article online at: https://www.worldcoal.com/coal/04092019/edenville-makes-cash-payment-to-lind/