Globe Metals & Mining Secures $600,000 Working Capital Facility

MT Newswires Live

Aug 04

Globe Metals & Mining (ASX:GBE) has secured a standby working capital facility of up to $600,000 from Director Bo Tan to strengthen its short-term funding flexibility and support general working capital requirements, according to a Tuesday Australian bourse filing.

The facility bears interest at a rate of 12% per annum, with drawdowns permitted subject to the applicable notice requirements, per the filing.

The agreement permits early repayment without penalty and includes customary conditions, warranties, undertakings, and default provisions, and will mature on Dec. 31, the filing added.

The company's shares rose 1% in recent Tuesday trade.

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