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United Kingdom : FIRESTONE DIAMONDS inks financing agreements

June 1, 2014

Firestone Diamonds Plc declared that it has inked the Absa Debt Facility, Subscription Agreements and Mezzanine Facility Agreement.

The agreement helps to raised about 137.3 million. The fund will be used to build and commission the main treatment plant and supporting infrastructure for the Liqhobong diamond mine, in Lesotho. The placing is supposed to be on 29 May 2014.

Stuart Brown, Chief Executive Officer of Firestone Diamonds, stated, "Entering into the financing agreements, following receipt of Shareholders' approval for the Fundraising at the General Meeting, is the concluding element to the project financing package required for Firestone to commence building the Main Treatment plant at its Liqhobong Diamond Mine in Lesotho. We look forward to beginning the early earth works on the Project in the coming weeks following receipt of funds from the Placing and Subscription on Admission."

Drawdown of the Mezzanine Facility and Absa Debt Facility are dependent on certain conditions.

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Source: TendersInfo (India)

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