Cash Payment to Lind
Edenville Energy Plc (AIM: EDL), the AIM quoted company developing the Rukwa coal project in southwest Tanzania, announces that the second cash payment under the funding agreement (the “Funding Agreement”) with Lind Partners LLC (“Lind”) 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 per 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.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.