£2mill back to Eqtec3 Sep 2019 12:22
but what about their funding for 19% of the project?
The proceeds of the bond issue, once subscribed for together with EQTEC's investment in-kind of US$2.5 million, is expected to enable the Project to reach financial close which is anticipated during October 2019; and
· The existing members of NFCP, together with EQTEC, are currently finalising the Interest Purchase Agreement and the Operating Agreement that will govern EQTEC's 19.9% ownership of the Project and its involvement as a Managing Member of NFCP. These agreements, together with the issue of the 19.9% interest in NFCP, will be executed on financial close.