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BRIEF-Havilah Resources Secures Funding Of Up To $100 Mln From GFG Alliance

Published 01/05/2019, 03:24 pm
Updated 01/05/2019, 03:30 pm
© Reuters.  BRIEF-Havilah Resources Secures Funding Of Up To $100 Mln From GFG Alliance
HAV
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May 1 (Reuters) - Havilah Resources Ltd HAV.AX :

* SECURES FUNDING OF UP TO $100M FROM GFG ALLIANCE

* ESTABLISHES A STRATEGIC PARTNERSHIP WITH GFG

* FUNDING TO BE PROVIDED VIA SERIES OF EQUITY PLACEMENTS IN HAVILAH AT PREMIUM UP TO 35% OVER EXPECTED PERIOD OF 3 YEARS

* FUNDING POTENTIALLY PROVIDING GFG A 51% STAKE IN HAVILAH IF ALL EQUITY PLACEMENTS ARE MADE

* CO RETAINS OPERATIONAL CONTROL OF ALL ASSETS INCLUDING KALKAROO, REGIONAL EXPLORATION; MAINTAINS MAJORITY OF INDEPENDENT DIRECTORS

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