Peninsula Energy Ltd (ASX:PEN) has executed binding amended agreements with its lenders to restructure the existing US$17 million convertible note facilities.
The restructure will result in a significant reduction in the outstanding principal owed through partial monetisation of a uranium concentrate sale and purchase agreement.
Additionally, the repayment date will be extended out to 22 April 2021.
Formal documentation advanced
In the unlikely event that the partial monetisation transaction does not complete by 30 April 2020, all outstanding loan amounts will become due and payable by 31 October 2020.
The partial monetisation transaction documentation is in advanced form and it along with other formal documentation hopes to be completed before the end ofRead More – Source
