Consolidated Tin Mines Limited Enters into an Unsecured Loan Agreement (Loan Agreement) with 53.6% Shareholder, Cyan Stone Pty Ltd
January 19, 2021 at 02:18 am EST
Consolidated Tin Mines Limited announced that it has entered into an unsecured loan agreement (Loan Agreement) with 53.6% shareholder, Cyan Stone Pty Ltd. (Cyan Stone). Under the Loan Agreement, Cyan Stone has agreed to advance up to $30,000,000 to the Company which will be used to fund (i) the balance of the consideration payable in respect of the Auctus acquisition (being $16,800,000) (Auctus Acquisition), and (ii) for general working capital purposes which includes the provision of funds to bring Auctus back into production.