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ORION MINERALS LIMITED - Tembo Capital extends term of Loan Facility advanced for Prieska Copper-Zinc Project

Release Date: 15/06/2020 08:40
Code(s): ORN     PDF:  
 
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Tembo Capital extends term of Loan Facility advanced for Prieska Copper-Zinc Project

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)

Tembo Capital extends term of Loan Facility advanced for the Prieska-Copper Zinc Project


Private equity group Tembo Capital extends the term of the $3.6M Loan Facility, confirming its continued
support of Orion.

Loan Facility repayment date extended to 31 October 2020.

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that mining-focused,
private equity group Tembo Capital Mining Fund II LP (Tembo Capital), has confirmed its continued support of
Orion through an extension to the term of the $3.6M Loan Facility from 25 June 2020 to 31 October 2020.

On 25 January 2019, Orion announced that a $3.6M unsecured convertible loan facility had been agreed with
Tembo Capital (Loan Facility).

Under the terms of the Loan Facility, Tembo Capital may elect for repayment of the balance of the Loan Facility
(including capitalised interest and fees) (Outstanding Amount) to be satisfied by the issue of fully paid ordinary
shares (Shares) by Orion to Tembo Capital at a deemed issue price of $0.026 per Share (subject to shareholder
and Foreign Investment Review Board approvals). The Outstanding Amount must be repaid by 31 October 2020
(previously 25 June 2020), or if Tembo Capital elects to receive Shares in repayment of the Outstanding Amount
in lieu of payment in cash, the date on which the Shares are to be issued to Tembo Capital (or such later date as
may be agreed between Tembo Capital and Orion) (refer ASX release 25 January 2019). As at 31 May 2020, the
balance of the Loan Facility was $4.54M (including capitalised interest and fees).

For and on behalf of the Board.




Errol Smart
Managing Director and CEO

15 June 2020


ENQUIRIES

 Investors                                  Media                                     JSE Sponsor
 Errol Smart – Managing Director & CEO      Nicholas Read                             Rick Irving
 Denis Waddell – Chairman                   Read Corporate, Australia                 Merchantec Capital
 T: +61 (0) 3 8080 7170                     T: +61 (0) 419 929 046                    T: +27 (0) 11 325 6363
 E: info@orionminerals.com.au               E: nicholas@readcorporate.com.au          E: rick@merchantec.co.za

Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and results,
capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be
based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-
looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Orion. Actual results and developments may vary materially from those
expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-
looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking statements made in this
release to reflect events or circumstances after the date of this release. All information in respect of Exploration Results and
other technical information should be read in conjunction with Competent Person Statements in this release (where
applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and affiliates and their
officers, employees, agents, associates and advisers:
•    disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
     expectations or assumptions;
•    do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
     information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
     implied in any forward-looking statement; and
•    disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
     negligence).

Date: 15-06-2020 08:40:00
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