GoviEx scheduled to receive US$3 million in H1 2019 from Linkwood loan repayments GoviEx closes C$1 million private placement
GoviEx Uranium Inc. (TSX – V: GXU; OTCQB: GVXXF) (“GoviEx ” or “Company”) today announced it has agreed to amend certain terms of
the short-term loan the Company made to Linkwood Holdings Pte Ltd. (“Linkwood”), which was announced July 9, 2018.
Linkwood is now scheduled to repay GoviEx all outstanding loan principal and interest amounts by end of June 2019.“
Linkwood’s assistance helped to ensure the conclusion of our transaction with Toshiba Corporation and enabled GoviEx to settle a uranium price linked
loan at a discount to the spot market uranium price before the recent upward price move,” noted Executive Chairman Govind Friedland.
Mr Friedland further noted that Linkwood’s repayment schedule, together with the private placement the company is announcing today means
that GoviEx remains well-funded going in to 2019. GoviEx and Linkwood have agreed to a six-month extension to the final loan repayment on
the basis that Linkwood make monthly repayments to GoviEx starting with an initial repayment amount of US$402,000 in February 2019. Linkwood
will then make monthly repayments of US$270,000, US$567,000, and US$563,000 in March, April and May, respectively, with a final payment of US$1.12 million in June
2019. These repayments include approximately US$212,000 in interest.
GoviEx also today announced that it has closed a non-brokered private placement financing (the “Private Placement”) of 5,879,411 units (“Units ”) at a price of C$0.17 per Unit, with
each Unit consisting of one (1) Class A common share and one (1) Class A common share purchase warrant (a“Warrant”) for gross proceeds of C$999,499.87.
Each Warrant entitles the holder to purchase one Class A common share of the Company over a 36 -month period at a price of US$0.21 until December 31, 2019, US$0.24 until
December 31, 2020, and US$0.28 until December 31, 2021.
Please read the complete press release at the following link: LINK