Tembo Capital Increases Loan Facility amount advanced for the 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
(“Orion” or “the Company”)
Tembo Capital increases Loan Facility amount advanced for the Prieska-Copper Zinc Project
Private equity group Tembo Capital increases the Loan Facility amount by $1.0M to $2.0M, confirming its
continued support of Orion.
Loan Facility balance will be set off against the amount subscribed for by Tembo under any future capital
raising undertaken by Orion.
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 increase in the Loan Facility amount by $1.0M to $2.0M.
On 14 May 2020, Orion announced that a $1.0M unsecured convertible loan facility had been agreed with Tembo
Capital (Loan Facility). Under the terms of the Loan Facility, the Loan Facility amount ($2.0M), interest and any
amount capitalised under the Loan Facility (Outstanding Amount) will be automatically set off against the amount
to be paid by Tembo for the issue and allotment of ordinary shares in Orion (Shares) to Tembo under any capital
raising undertaken by Orion on or before 31 October 2020 (Subscription Amount) (subject to Tembo Board
approval and any shareholder and regulatory approvals required to permit Tembo to participate in any capital
If Orion does not undertake a capital raising by 31 October 2020, Tembo may elect to receive Shares in repayment
of the Outstanding Amount, at an issue price of the 10 trading day ASX VWAP of the Shares, prior to the date that
Tembo issues a conversion notice to Orion (subject to shareholder and regulatory approvals).
For and on behalf of the Board.
Managing Director and CEO
29 June 2020
Investors Media JSE Sponsor
Errol Smart – Managing Director & CEO Nicholas Read Rick Irving
Denis Waddell – Chairman Read Corporate, Australia Merchantec Capital
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Date: 29-06-2020 08:03:00
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