Austral Gold Assigns US$2M of Related Party Loan
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) announced the assignment of US$2 million from a US$3.5 million unsecured credit facility originally held by Inversiones Financieras del Sur SA (IFISA). The assignment, effective from August 30, 2024, was distributed between two Company directors: Eduardo Elsztain accepting US$1.7 million and Saúl Zang accepting US$0.3 million.
IFISA, which is the Company's largest shareholder, had previously disbursed US$2.5 million under this facility. Both Elsztain and Zang are directors and shareholders of IFISA. All other terms of the credit facility remain unchanged from the original announcement.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ha annunciato l'assegnazione di 2 milioni di dollari da una linea di credito non garantita di 3,5 milioni di dollari originariamente detenuta da Inversiones Financieras del Sur SA (IFISA). L'assegnazione, efficace dal 30 agosto 2024, è stata suddivisa tra due direttori della Società: Eduardo Elsztain ha accettato 1,7 milioni di dollari e Saúl Zang ha accettato 0,3 milioni di dollari.
IFISA, che è il maggiore azionista della Società, aveva precedentemente erogato 2,5 milioni di dollari sotto questa linea di credito. Sia Elsztain che Zang sono direttori e azionisti di IFISA. Tutti gli altri termini della linea di credito rimangono invariati rispetto all'annuncio originale.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) anunció la asignación de 2 millones de dólares de una línea de crédito no garantizada de 3,5 millones de dólares originalmente mantenida por Inversiones Financieras del Sur SA (IFISA). La asignación, efectiva a partir del 30 de agosto de 2024, se distribuyó entre dos directores de la Compañía: Eduardo Elsztain aceptando 1,7 millones de dólares y Saúl Zang aceptando 0,3 millones de dólares.
IFISA, que es el mayor accionista de la Compañía, había desembolsado previamente 2,5 millones de dólares bajo esta línea de crédito. Tanto Elsztain como Zang son directores y accionistas de IFISA. Todos los demás términos de la línea de crédito permanecen sin cambios respecto al anuncio original.
오스트랄 골드 (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF)는 원래 Inversiones Financieras del Sur SA (IFISA)가 보유했던 3.5백만 달러의 무담보 신용 시설에서 200만 달러의 양도를 발표했습니다. 2024년 8월 30일부터 효력이 발생하는 이번 양도는 두 회사 이사에게 분배되었습니다: 에두아르도 엘스츠타인이 170만 달러를 수락하고 사울 장이 30만 달러를 수락했습니다.
IFISA는 회사의 최대 주주로, 이 시설에서 이전에 250만 달러를 지급했습니다. 엘스츠타인과 장 모두 IFISA의 이사이자 주주입니다. 신용 시설의 모든 다른 조건은 원래 발표와 동일하게 유지됩니다.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) a annoncé l'attribution de 2 millions de dollars d'une ligne de crédit non garantie de 3,5 millions de dollars initialement détenue par Inversiones Financieras del Sur SA (IFISA). L'attribution, effective à partir du 30 août 2024, a été répartie entre deux administrateurs de la société : Eduardo Elsztain acceptant 1,7 million de dollars et Saúl Zang acceptant 0,3 million de dollars.
IFISA, qui est le principal actionnaire de la société, avait précédemment déboursé 2,5 millions de dollars dans le cadre de cette ligne de crédit. Elsztain et Zang sont tous deux administrateurs et actionnaires d'IFISA. Tous les autres termes de la ligne de crédit restent inchangés par rapport à l'annonce originale.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) gab die Zuweisung von 2 Millionen US-Dollar aus einer ursprünglich von Inversiones Financieras del Sur SA (IFISA) gehaltenen unbesicherten Kreditlinie in Höhe von 3,5 Millionen US-Dollar bekannt. Die Zuweisung, die ab dem 30. August 2024 wirksam ist, wurde zwischen zwei Direktoren des Unternehmens aufgeteilt: Eduardo Elsztain akzeptierte 1,7 Millionen US-Dollar und Saúl Zang akzeptierte 0,3 Millionen US-Dollar.
IFISA, der größte Aktionär des Unternehmens, hatte zuvor 2,5 Millionen US-Dollar aus dieser Kreditlinie ausgezahlt. Sowohl Elsztain als auch Zang sind Direktoren und Aktionäre von IFISA. Alle anderen Bedingungen der Kreditlinie bleiben unverändert gegenüber der ursprünglichen Ankündigung.
- Access to US$3.5M credit facility providing financial flexibility
- US$2.5M already disbursed from the facility
- Increased related-party debt exposure
- Further financial obligations to company directors
Sydney, Australia--(Newsfile Corp. - February 27, 2025) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company") is pleased to announce that Inversiones Financieras del Sur SA ("IFISA") assigned and transferred US
Eduardo Elsztain has accepted the assignment of US
IFISA is the Company's largest shareholder and Eduardo Elsztain and Saúl Zang, are also directors and shareholders of IFISA.
Prior to the assignment, IFISA had disbursed US
All other material terms remain as previously announced by the Company.
About Austral Gold
Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.
For more information, please visit the Company's website at www.australgold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Release approved by the Company's Chief Executive Officer of Austral Gold, Stabro Kasaneva.
For additional information please contact:
| David Hwang | Jose Bordogna |
| Joint Company Secretary | Chief Financial Officer and Joint Company Secretary |
| Austral Gold Limited | Austral Gold Limited |
| david@confidantpartners.com | jose.bordogna@australgold.com |
| +61 433 292 290 | +61 466 892 307 |
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include that Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.
All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus, uncertainty in the measurement of mineral resources and reserves and other risks and hazards related to the exploration of a mineral property, and the availability of capital. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242765
FAQ
How much of the AGLDF credit facility was assigned to Eduardo Elsztain?
What is the total value of the unsecured credit facility for Austral Gold (AGLDF)?
How much has IFISA disbursed under the AGLDF credit facility as of February 2025?
When was the original AGLDF credit facility established?
