Kula Gold secures loan facility

KULA Gold has entered into a loan facility agreement with Geopacific Resources Limited to provide funds for working capital.
Kula Gold secures loan facility Kula Gold secures loan facility Kula Gold secures loan facility Kula Gold secures loan facility Kula Gold secures loan facility

Exploration team overlooking Woodlark project

Staff Reporter

The agreement provides a loan of up to A$500,000 free from costs or interest.
 
The facility will mature in 12 months or another date agreed upon by the parties.
 
Geopacific may opt to set off all or a portion of the loan against the obligation under a farm-in agreement to apply for a placement of $300,000.
 
Kula's expenditure at its Woodlark Island gold project is funded by Geopacific under a farm-in agreement.
 
Geopacific owns 85% of Kula after a takeover in August.

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