Murray River Enters into agreement with NAB and Moves to Equity Raising Phase

Murray River Organics Group Limited (ASX: MRG) has announced an agreement with its financier National Australia Bank Limited (NAB) that completes the second phase of the capital management process that commenced with the exit from the Colignan Farm lease.

Ø  The company agrees to modification to an existing facility with its financier, National Australia Bank Limited.

Ø  The Agreement to provide accelerated interim funding support and amends the existing financing facility.

Ø  Under the agreement the NAB has agreed to accelerate drawdown of $4m in two tranches of $2m each at the beginning of January and February respectively.

Ø  The company has an active dialogue with many shareholders, has engaged advisors and expects to launch an equity capital raising by the end of January 2020 to raise a minimum of $20 million.

Ø  The company also started exploring the partnership arrangements regarding the significant vacant arable land at its Nangiloc property.

Ø  The company agrees to modification to an existing facility with its financier, National Australia Bank Limited.

Ø  The Agreement to provide accelerated interim funding support and amends the existing financing facility.

Ø  Under the agreement the NAB has agreed to accelerate drawdown of $4m in two tranches of $2m each at the beginning of January and February respectively.

Ø  The company has an active dialogue with many shareholders, has engaged advisors and expects to launch an equity capital raising by the end of January 2020 to raise a minimum of $20 million.

Ø  The company also started exploring the partnership arrangements regarding the significant vacant arable land at its Nangiloc property.

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