Askari Metals Limited (AU:AS2) has released an update.
Askari Metals Limited has renegotiated the terms of its Redeemable Note with SBC Global Investment Fund, extending the repayment date and altering the repayment method for improved financial flexibility. The deal involves a $250,000 cash payment by October 2024 or post-next capital raising, and the balance through share conversion, subject to shareholder approval. This strategic move bolsters Askari’s uranium acquisition strategy in Tanzania and reinforces its commitment to clean energy initiatives in Africa.
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