Further to its announcement on 29 October 2024, SDX Energy has confirmed that Aleph Finance has delivered a funding statement (pursuant to the Amended Facility Agreement) covering approximately US$4.5 million, which has been used to repay the Existing Convertible Loan. The remaining balance under the Amended Facility Agreement of approximately US$2.0 million will be available to the Company when the Lender confirms that this amount has been funded by its sub-participants and delivers a further funding statement covering this additional amount. The Company intends to draw this amount when it becomes available and to apply the proceeds towards capital expenditure in Morocco and general corporate creditors. The Loan will be available for drawdown until 1 May 2025.
Daniel Gould, Chief Executive Officer, commented:
'I am pleased to inform shareholders that the refinancing of the convertible loan has been completed. The Aleph group continues to support SDX by providing finance to enable the Company to realise some of the potential value of its assets in Morocco.'
