RE: Next stop 12p ZM3 Jul 2023 07:24
Panthera Resources Plc
("Panthera" or "the Company")
Arbitration Financing Update
Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, provides an update on Indo Gold Pty Ltd's conditional arbitration funding agreement (AFA) for up to US$10.5 million in litigation financing with LCM Funding SG Pty Ltd (LCM), as originally announced by the Company on 28th February 2023.
Most recently, on 1 June 2023 the Company announced, amongst other matters, that it had agreed to an extension to 30 June 2023 to allow LCM to complete its detailed due diligence (the "LCM Due Diligence"). While the Company previously did not anticipate a further extension of the due diligence period, the Company confirms that it has agreed to a further extension to the LCM Due Diligence period to 14 July 2023.
Following the successful completion of LCM Due Diligence, the parties can then move to complete a Funding Confirmation Notice. There can be no assurance that LCM's due diligence will be completed to LCM's satisfaction.
Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Company's announcement on 28th February 2023.