17 Sep 2010 13:06
RED ROCK RESOURCES PLC
Loan Agreement
Dated: 17 September 2010
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.
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.
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.
Enquiries:
| 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.
Red Rock Resources (RRR)