REG-China Nonferrous Gold Limited Execution of New Loan Agreement

China Nonferrous GoldAnnouncement

06/04/2022 12:00

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Execution of New Loan Agreement

 

China Nonferrous Gold Limited 中国有色黄金有限公司

(“CNG” or the “Company”)

Execution of New Loan Agreement

China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the
mineral exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to provide the following
update:

Banking Facility from China CITIC Bank Corporation Limited（Zhuhai Branch）

The Company has today executed a foreign currency working capital loan
agreement with China CITIC Bank Corporation Limited (Zhuhai Branch)
(“CITIC”) for a loan facility of up to US$20 million (the “new CITIC
Loan”). This will be used to repay US$20m of the CNMC Trade loan with an
annual interest at 3.25% over 3 month LIBOR, which was extended on 26 March
2021 and is repayable on 26 November 2022 (see announcement dated 26 March
2021). This loan was first executed on 1 July 2019.

The new CITIC Loan facility is repayable 12 months from the date of draw down;
and has an annual interest of 3.00% plus the average LIBOR rate over the
previous 6 months.

The new CITIC Loan has guaranteed (as a standalone agreement) by China
Nonferrous Metal Mining (Group) Co., Ltd (“CNMC”) (the “Guarantee”) in
2021. The Guarantee will expire on 26 January 2023.

There are no arrangement fees payable to CITIC, nor any fees payable to CNMC
for providing the guarantee, for CNG.

Summary of Current Financial Position

At the current time, excluding the new CITIC loan outlined above, loans drawn
down by the Company amount to c. USD$319 million, this includes US$99.55m of
banking facilities (unaudited).

For further information please visit the Company’s website (www.cnfgold.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.cnfgold.com&esheet=52659451&newsitemid=20220406005635&lan=en-US&anchor=www.cnfgold.com&index=1&md5=4e563cd8cbfc268436e8644805e38b83)
) or contact:

China Nonferrous Gold Limited

Zhang Hui, Managing Director

Tel: +86 10 8442 6662

WH Ireland Limited (NOMAD & Broker)

Katy Mitchell (mailto:Katy.Mitchell@whirelandcb.com) , Andrew de Andrade

Tel: +44 (0)207 220 1666

BlytheRay (PR)

Tim Blythe

Tel: +44 (0)20 7138 3224

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014



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China Nonferrous Gold Limited


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