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BRIEF-Drake Resources says Brett Fraser to resign as chairman and enters financing deal

Published 18/11/2016, 04:06 pm
Updated 18/11/2016, 04:10 pm
© Reuters.  BRIEF-Drake Resources says Brett Fraser to resign as chairman and enters financing deal

Nov 18 (Reuters) - Drake Resources Ltd DRK.AX

* Currently intended that Brett Fraser will resign as chairman of company

* Board of Drake received various recapitalisation and funding proposals

* Has entered into agreements with empire Capital Partners Pty Ltd to facilitate a medium term financing and recapitalisation of co

* Total amount repayable under facility is $1.3 million Source text for Eikon: ID:nASX99DX9z Further company coverage: DRK.AX

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