- Cape Lambert has executed a term sheet with Winance Investment for a $15 million finance facility in Cape Lambert
- Cape Lambert says the facility provides the company with the flexibility and allows it to negotiate with potential strategic partners
- The company will receive $1 million upon signing the formal documents, and a further $14 million will be available in tranches of $500,000 each upon full conversion of notes from the previous drawdown
Australian resources and investment company Cape Lambert Resources has executed a term sheet with Winance Investment LLC for a $15 million finance facility.
Cape Lambert says the $15 million facility will provide flexibility in negotiations for either an or a strategic partner, which could result in alternative funding like a cash injection into the company.
Winance provided the term sheet by way of the issue of convertible securities in Cape Lambert. An initial payment of $1 million will be available for immediate drawdown once the formal documents have been signed.
A further $14 million in drawdowns of $500,000 each will also be available upon full conversion of the notes from the previous drawdown, subject to a ‘cooling off’ period.
Winance CEO Cristina Nina said Winance’s focus is to creative long-term value and a positive economic impact for the companies in which it invests.
“We have chosen to offer [Cape Lambert] not only financial support but as well solutions all along the way, access to an unparalleled network of advisors, strategic partners and customers,” Cristina said.
“Our understanding and concept of being together on the same boat and sharing the same vision, the alignment with the management teams and efficient decision-making represents the core of our firm’s success. We bring significant resources and credibility and maintain a long-standing commitment to our principal values of honesty, integrity, and loyalty,” she said.
Cape Lambert Chairman Tony Sage said this funding provides Cape Lambert ‘flexibility and allows us to continue to negotiate with potential strategic partners.’
Cape Lambert is an Australian mineral development company with interests in several exploration and mining companies in Australia, Europe, Africa and South America.