Last checked at 28 Apr 2010 17:32
RED ROCK RESOURCES PLC
Loan Agreement
Dated: 28 April 2010
Red Rock Resources plc ("Red Rock" or the "Company") announces that it has entered into a short term loan agreement with YA Global Master SPV Limited ('YA Global'), which is advised by Yorkville Advisors LLC.
Under the agreement Red Rock has borrowed $1,600,000 from YA Global. The loan carries interest at 12% p.a. and is secured under the Standby Equity Distribution Agreement ('SEDA') between Red Rock and YA Global announced on 1 May 2009 and by security over certain liquid assets of Red Rock.
Red Rock is in an advanced stage of negotiation with a third party in which it proposes to make a substantial investment in a Latin American resources asset. The purpose of the loan is to put Red Rock into a position where it is able to execute and fulfil this transaction.
Enquiries:
| Red Rock Resources plc | | | |
| Andrew Bell, Chairman | 0207 402 4580/07766 474849 | | |
| John Watkins | 07768 512404 | | |
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| Nominated Adviser | | | |
| Religare Capital Markets | | | |
| Peter Trevelyan-Clark/Ben Jeynes | 020 7444 0800 | | |
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| Broker | | | |
| Simple Investments Ltd | | | |
| Nick Emerson, Renato Rufus | 01483 413500 | | |
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| Public Relations | | | |
| City of London PR | | | |
| Ron Marshman | 020 7011 9411 | | |
Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.