17 Sep 2010 13:06

RED ROCK RESOURCES PLC
Loan Agreement
Dated: 17 September 2010
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Red Rock Resources plc ("Red Rock" or the "Company") announces that it has entered into a loan agreement with YA Global Master SPV Limited ('YA Global'), which is advised by Yorkville Advisors LLC.
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Under the agreement Red Rock has borrowed $1,200,000 from YA Global. The loan carries interest at 12% p.a. and is repayable in full by 31 January 2011. The loan is secured under the Standby Equity Distribution Agreement ('SEDA') between Red Rock and YA Global announced on 1 May 2009 and by security over certain liquid assets of Red Rock.
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The loan will be used to finance Red Rock's Colombian investment in Mineras Four Points SA under the Funding and Co-operation Agreement announced on 10 June 2010 after payment of arrangement fees and the repayment of the outstanding US$448,370 balance of the Company's previous US$1.6 million loan agreement with YA Global announced on 28 April 2010.
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Enquiries:
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Red Rock Resources plc |
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Andrew Bell, Chairman | 0207 402 4580/07766 474849 |
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Sandra Spencer, Public and Investor Relations | 0207 402 4580/07757 660 798 |
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Nominated Adviser |
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Religare Capital Markets |
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Peter Trevelyan-Clark/Ben Jeynes | 020 7444 0800 |
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Broker |
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Simple Investments Ltd |
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Nick Emerson/Renato Rufus | 01483 413500 |
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Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.
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