Terramin Australia's (ASX:TZN) subsidiary, Terramin Exploration has entered into an agreement with major shareholder Asipac Group Pty to restructure its Standby Term Facility.
The existing unsecured facility has been increased from $6.25 million to $8.25 million on similar terms and will be secured in accordance with the terms of the existing facility.
Asipac has agreed to increase its total debt facility to $19.25 million, of which $17.25 million has been drawn to date.
Shares in Terramin Australia (ASX:TZN) closed 8.33 per cent lower at $0.12 yesterday.
