QUEBEC CITY, QUEBEC--(Marketwired - April 3, 2017) - Robex Resources Inc. ("Robex" and/or "the Company") (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce that the Nampala mine has processed 133,450 tonnes of ore during the month of March 2017, which represents an average of 4,305 tonnes per day, an improvement of more than 5% compared to Februay. The production data presented was validated by Antoine Berton ing, Ph.D., Soutex metallurgist, a metallurgy and ore processing consulting firm at the Nampala site.
Amendment of the terms of the 1 000 000 EUR loan obtained in January 2016
Georges Cohen, President and Chief Executive Officer of the Company, has agreed to extend the term of the EUR 1 million loan that he granted to the Company in January 2016 at the latest by December 31, 2017 in order to enable Robex to have at present an easier level of cash. Interest at the annual rate of eight per cent (8 per cent) remains unchanged.
The amendment above is a "transaction with a related party" in regard to Regulation 61-101 Protection of Minority Security Holders in Special Transactions (" Regulation 61-101"), since it relates to the loan from Mr. Georges Cohen, President and Chief Executive Officer of the Company. However, it is exempted from the requirement to make a formal assessment and approval from minority security holders under Regulation 61-101, under the exemptions in paragraphs 5.5 (a), 5.5 (f) and paragraph 5.7 (1) (a) of Regulation 61-101, since the fair market value of the subject matter of the transaction with the related party and the counterparty of the transaction does not exceed 25% of Robex's market capitalization and the transaction is a loan on reasonable commercial terms and is beneficial to Company. A material change report regarding the proposed amendment will be filed on the SEDAR website.
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex's control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex's management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.