Diatreme Resources Secures 12-Month Extension for Existing AU$1 Million Debt Facility, Shares Reach Five-Year Low
MT Newswires Live
Jun 02
Diatreme Resources (ASX:DRX) secured a further 12-month extension of its existing AU$1 million debt facility, with the maturity date extended to May 30, 2027, from May 30, according to a Tuesday Australian bourse filing.
The facility remains unsecured and continues to carry an interest rate of 7.5% per annum, payable quarterly in arrears.
The facility originated from a convertible note arrangement that was fully drawn by May 2, 2017. The debt component of the arrangement has been subject to various extensions and was reduced by AU$500,000 in 2024, leaving the current principal balance of AU$1 million.
Its shares fell 6% in recent trading on Tuesday, reaching their lowest point in over five years.
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