The purpose of the Credit Facility is to meet the temporary cash flow needs of the Company as it prepares to enter into the production phase of its Nampala mine in
The Credit Facility is a related party transaction that was unanimously approved by the independent members of the board of directors of Company. The members of the Cohen family that are also members of the board of directors of Company, abstained to vote on this resolution.
A material change report has concurrently been filed by the Company which is less than 21 days prior to the closing of the financing. This is explained by the immediate cash flow needs of
Robex is a junior Canadian mining exploration & development company with nine permits located in
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex's control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex's management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rodrigue GilbertHead of Corporate Communications Cell : (613) 808-7435 Phone : (581) 741-7421 firstname.lastname@example.org Source: Robex Resources Inc.