ZincOx Resources PLC Receipt of Sale Proceeds and Loan Notes repayment (0839V)
25 Januar 2017 - 10:54AM
UK Regulatory
TIDMZOX
RNS Number : 0839V
ZincOx Resources PLC
25 January 2017
25 January 2017
ZincOx Resources plc
("ZincOx", the "Company" or the "Group")
Receipt of Sale Proceeds and repayment of Loan Notes
ZincOx Resources plc ("ZincOx" or "the Company") is pleased to
announce that it has received the first tranche of the sale
proceeds amounting to USD7,000,000 pursuant to the Sale and
Purchase Agreement announced on 12 January 2017.
This tranche has been used to repay the Company's Corporate Loan
Notes ("the Notes"), which together with accrued interest amounts
to approximately USD4,850,000 (GBP3,970,282). The Notes were
secured against land in Turkey which is being held for sale.
Commenting on the announcement, Andrew Woollett, ZincOx's CEO,
said: "The receipt of these funds has meant that we have been able
to repay the loan notes and now have a debt free Company and
approximately USD2,000,000 to provide funds for us to work on
rebuilding it."
This announcement contains inside information for the purposes
of Article 7 of regulation 596/2014.
For further information, please go to: www.zincox.com or
contact:
ZincOx Resources plc Tel: +44 (0) 127
645 0100
Andrew Woollett
Peel Hunt LLP (Nominated Adviser Tel: +44 (0) 207
and Broker) 418 8900
Richard Kauffer
Euan Brown
This information is provided by RNS
The company news service from the London Stock Exchange
END
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