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BRIEF-Cokal Ltd says reached agreement for conversion of outstanding loans to production royalty

Published 22/07/2016, 02:24 pm
Updated 22/07/2016, 02:30 pm
© Reuters.  BRIEF-Cokal Ltd says reached agreement for conversion of outstanding loans to production royalty

© Reuters. BRIEF-Cokal Ltd says reached agreement for conversion of outstanding loans to production royalty

July 21 (Reuters) - Cokal Ltd CKA.AX :

* Debt restructure and capital raising CKA.AX

* Says has reached an agreement for the conversion of all its outstanding loans to a production royalty

* Says on completion, the monies owing to platinum partners and blumont will be fully discharged and Cokal will be loan free

* Reached agreement with platinum partners to convert approximately USD15 million of loans owing by Cokal to various funds

* Funds raised will provide working capital for co which will enable it to continue to develop funding opportunities for its indonesian projects

* Says it has raised A$1.2 million for working capital through a private share placement

* Says Cokal has made a private placement to ramornie capital ltd and its associates

* Source text

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