Toro Energy (Toro) is pleased to advise that all conditions precedent and legal documentation for the secured $6M interest free loan, offered by major shareholder The Sentient Group, have now been completed and funds received.
The $6M in funds have been used to repay the remaining Macquarie Bank Debt Facility in full, removing the Company’s interest payment obligations and resetting the principal repayment date to August 2018.
Toro Managing Director Vanessa Guthrie said today, “the continued support shown by The Sentient Group places the Company in an enviable financial position and enables the company to apply existing working capital to the continued advancement of the Wiluna Project.”
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