TRUSTCO GROUP HOLDINGS LIMITED - Voluntary Announcement: Resources Segments Secure Two Term Sheets For The Development And Expansion Of Meya Mining

Voluntary Announcement: Resources Segments Secure Two Term Sheets For The Development And Expansion Of Meya Mining

TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
NSX share code: TUC
JSE share code: TTO
OTCQX share code: TSCHY
ISIN Number: NA000A0RF067
(“Trustco” or “the Company”)


VOLUNTARY ANNOUNCEMENT: RESOURCES SEGMENTS SECURE TWO TERM SHEETS FOR THE
DEVELOPMENT AND EXPANSION OF MEYA MINING


Trustco Shareholders (“Shareholders”) are advised that Trustco secured two term sheets, one with an
international private equity fund for a debt facility of USD 50 million (~ZAR 822 million) and the second
term sheet with an export credit facility to the amount of USD 35.8 million (~ZAR 590 million).


Both of these term sheets are for the development and expansion of the Resources Segment, with the
emphasis on its diamond mining asset in Sierra Leone, Meya Mining.


The term sheets contain warranties and due diligence processes which are standard for transactions
of this nature. Should the Parties and their boards be satisfied with the outcome of the due diligence
review, definitive agreements will be entered into.


The combined facilities would ensure that Meya Mining’s initial mine configuration targeting 360 000
carats per annum is fully capitalised, thus enable the mine to transition into commercial production
within an 18 month period post funding. For the first seven years Meya Mining’s mine plan shall focus
on the depletion of the Meya River domain, from where the Meya Prosperity was recovered, which
presents the highest geo-economical potential.     Shareholders are referred to previous SENS
announcements dated 11 April 2018, 5 June 2018 and 8 March 2019 in this regard.


Shareholders are advised that this is a voluntary announcement made to update the market and
Shareholders would be further updated once the due diligence process and the definitive agreements
are concluded.


Windhoek, Namibia,
19 October 2020


Komada Holdings (Pty) Ltd
Company Secretary and Investor Relations Services to Trustco Group Holdings Limited


JSE Sponsor
Vunani Corporate Finance - Johannesburg


NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek


OTCQX Sponsor
J.P Galda & Co – New York

Date: 19-10-2020 03:58:00
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