Queenstake Announces Extension of Bridge Loan Facility
02 5월 2007 - 7:00AM
PR Newswire (US)
DENVER, May 1 /PRNewswire-FirstCall/ -- Queenstake Resources Ltd.
("Queenstake") (TSX: QRL; Amex: QEE) announces that Auramet Trading
LLC ("Auramet") has agreed to extend the payment date of the
secured convertible bridge loan facility of US$8 million from April
30, 2007 to June 29, 2007. On January 15, 2007, the Company closed
a secured convertible bridge loan financing facility (the
"Facility") of $8 million with Auramet. The Facility has an
interest rate of 12.9% per annum and was repayable no later than
April 30, 2007 in cash, or at the option of Auramet, part or all of
the Facility may be repaid in common shares of Queenstake at a
conversion price of US$0.22 per share. Auramet received warrants
exercisable to acquire 10 million Queenstake common shares for a
term of one year at an exercise price US$0.22 per share. Under the
revised terms Queenstake will pay Auramet a fee of US$100,000 and,
subject to regulatory approval, has agreed to reprice the 10
million warrants to Cdn$0.18 per share and extend the expiry of the
warrants to January 16, 2009. For Queenstake: Wendy Yang
303-297-1557 ext. 105 800-276-6070 Email --
http://www.queenstake.com/ DATASOURCE: Queenstake Resources Ltd.
CONTACT: Wendy Yang of Queenstake Resources Ltd., +1-303-297-1557,
ext. 105, or +1-800-276-6070, Web site: http://www.queenstake.com/
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