Finance Facility Update

29 May 2009 07:00



AIM: EMED 29 May 2009

FINANCE FACILITY UPDATE

US$2 million drawdown and Issue of shares

EMED Mining Public Limited (the "Company"), the AIM quoted mining exploration and development company, wishes to announce that it has completed the following transactions under existing finance facilities: 

drawdown of US$2 million of its previously announced secured convertible loan facility with Resource Capital Fund IV L.P. and RMB Australia Holdings Limited. The Company intends to draw down the remaining US$2.5 million under this facility in the second half of 2009, subject to satisfaction of conditions, and

issued 1,874,126  ordinary shares in the Company at an issue price of 5.2p to YA Global Investments Limited ("YA") as repayment of US$150,000 of the loan advance that the Company has in place with YA. Upon repayment of this facility by January 2010, at the Company's election in cash or shares at prevailing market prices, the £10 million standby SEDA Facility becomes available for use by the Company. 

For further details please refer to the Company's website for disclosures at the Shareholders' Meeting of 23 March 2009 - http://www.emed-mining.com/

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