Deep Source Holdings Grants US$6 Million Interest-Free Loan to Gold Valley Pilbara

Reuters12-08
Deep Source Holdings Grants US$6 Million Interest-Free Loan to Gold Valley Pilbara

Deep Source Holdings Limited has announced it has entered into a new loan agreement with Gold Valley Pilbara Pty Ltd, an independent third party. Under the terms of the agreement, Deep Source Holdings Limited will provide an interest-free loan of US$6,000,000 for a term of twelve months. The loan is related to Gold Valley Pilbara Pty Ltd's proposed acquisition of the entire issued share capital of a target company, subject to certain conditions including approval from the Australian Foreign Investment Review Board. The agreement also grants Deep Source Holdings Limited the right to acquire 40% of the target company's shares from the borrower for US$6,000,000, with proceeds from this share sale to be used to repay the outstanding loan. The financing will be provided from Deep Source Holdings Limited's internal resources.

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