• Copulos Group convertible notes that matured on 30 June 2020 refinanced into new convertible notes;
• Unsecured loan facility from the Copulos Group re-financed into new convertible notes; and
• Third party convertible note to be redeemed and repaid in cash.

Consolidated Zinc Limited (ASX: CZL or “the Company”) is pleased to advise it has refinanced existing convertible notes and unsecured loan facilities with the Copulos Group into a new convertible note facility.

The Company has entered into an agreement with the Copulos Group to consolidate outstanding debt under its Existing Notes and unsecured loan facilities (“Existing Loans”) into 4 new convertible notes (“New Convertible Notes”) with the following key terms:

• Maturity date of 30 June 2022;
• Conversion price $0.003 per share;
• Interest rate of 10.0% per annum; and
• Principal value of A$1,127,826 (in aggregate).

The New Convertible Notes are subject to shareholder approval under listing rule 10.11 at the Company’s

upcoming AGM to be held on 31 July 2020.

Subject to the approval of shareholders, on completion of the issue of the New Convertible Notes the

Company’s borrowings will be as detailed in Table 1 below:

Table 1: Borrowings at 1 July 2020 (subject to shareholder approval of the New Convertible Notes)

*Holder is a Copulos Group member

**Lender not related to the Copulos Group

Refer to Appendix 1 for a summary of the key terms of the New Convertible Notes.

The Company advises that the holder of a $200,000 convertible note maturing on 30 June 2020 has elected to redeem the convertible note plus capitalised interest in full was repaid in cash.

This announcement was authorised for issue to the ASX by the Directors of the Company. For further information please contact:

Brad Marwood
Managing Director
08 9322 3406

Original Article: https://www.consolidatedzinc.com.au/wp-content/uploads/2020/07/20200702-Financing-Facilities-Consolidated-FINAL-ASX-LODGEMENT.pdf