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BRIEF-Galaxy Resources updates on corporate facility

Published 25/11/2015, 09:41 am
© Reuters.  BRIEF-Galaxy Resources updates on corporate facility
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Nov 25 (Reuters) - Galaxy Resources Ltd GXY.AX :

* Corporate facility update GXY.AX

* Galaxy and ocp will now arrange drawdown of the facility for repayment of the outstanding convertible bonds

* Received confirmation from ocp Asia that all conditions precedent to utilisation of the A$31 million debt facility have been satisfied

* Pursuant to arragement , has issued the relevant Galaxy shares to both the clipper group participants and ocp

* Says as a condition of ocp facility, company advises that it has received notice from the clipper group

* Received notice from clipper group where it has agreed to convert its outstanding secured loan of A$4.45 million into Galaxy shares

* Source text (http://bit.ly/1QGPiKE)

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