SOURCE: EMED Mining Public Limited

March 27, 2015 17:15 ET

EMED Mining Public Limited: Extension of Repayment of Loan and Convertible Notes and Financing Update

NICOSIA, CYPRUS--(Marketwired - Mar 27, 2015) - EMED Mining Public Limited (TSX: EMD) (AIM: EMED) (LSE: EMED)

(LSE: EMED; TSX: EMD)

27 March 2015

EMED Mining Public Limited
("EMED" or the "Company")

Extension of repayment of Loan and Convertible Notes and Financing Update

Further to the announcement made on 25 March 2015, EMED Mining Public Limited, the Europe-based minerals development and exploration company, is pleased to confirm the extension to the repayment terms of its existing bridging Loan and Convertible Notes (each as defined below).

As previously stated, on 24 December 2014, the Company announced that it had agreed an unsecured bridging finance facility for up to US$30 million (the "Loan") with Trafigura Beheer BV ("Trafigura"), Orion Mine Finance (Master) Fund I LP ("Orion") and Hong Kong Xiangguang International Holdings Limited ("Hong Kong Xiangguang"), an affiliate of Yanggu Xiangguang Copper Co. Limited ("XGC") (Trafigura, Orion and Hong Kong Xiangguang being the "Lenders"). Furthermore the Company announced that it had agreed with Orion and XGC that the maturity date of the secured convertible loan notes issued in July 2013 (the "Convertible Notes") shall be extended to be consistent with the date for repayment of the Loan (the "Note Extension").

Extension of Loan and Convertible Notes

Under the original terms of the Loan the repayment date, and therefore the maturity date of the Convertible Notes pursuant to the Note Extension, was on the earliest of 30 March 2015 or the Company raising debt or equity funding in an amount equal to or greater than the amounts outstanding under the loan agreement.

The Company is pleased to confirm that it has agreed with the Lenders that the Loan repayment terms, and consequently the maturity of the Convertible Notes, have been extended by three months to 30 June 2015 (together, the "March 2015 Loan & Convertible Note Extension"). In consideration for extending the term of the Loan, should a meeting of shareholders not be called by 30 April 2015 in order to approve a long term funding package, the Company has agreed to pay an extension fee of 0.5% on all outstanding amounts (including accrued interest and costs) owed to the Lenders pursuant to the Loan and the Convertible Notes. Additionally, a further fee equal to 1% would be payable should a meeting of shareholders not be called by 31 May 2015. All other repayment terms of the Loan and Convertible Notes remain unchanged.

For the full press release, click on the link below

http://www.rns-pdf.londonstockexchange.com/rns/3726I_1-2015-3-25.pdf

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