Robex Resources Inc.: Signature of a Letter of Intent to Conclude a Financing Which Can Go Up 45 Million US Dollars
QUEBEC CITY, QUEBEC -- (Marketwire) -- 06/07/12 -- The company Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to announce it has signed a letter of intent with a group of the Middle East (the Group), to conclude a financing which can go up 45 million U.S. dollars.
This funding would be in the form of a loan, bearing interest at 9% compounded annually, and repayable in one installment at the end of a 5 year term.
This financing is subject to the usual diligence review and would also include guarantees that are to be negotiated.
The closing of this financing is planned over the next three months.
"We have been working with this Group since the beginning of the year to interest them in the potential of our Nampala project. The signing of this agreement letter is an important milestone in the process. The conclusion of this funding would allow Robex to implement its mine on Nampala, withoutsignificant dilution for the shareholders," said Mr. Andre Gagne, President and CEO of Robex.
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, unfavorable 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.
Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release.
Contacts:
Investor relations/information:
Andre Gagne
President and Chief Executive Officer
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11
Media relations:
Sarah Moreau
Consultant H+K Strategies
514-395-0375, extension 234