Loan Agreement

RNS Number : 9951K

Red Rock Resources plc

28 April 2010

 

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
Nominated Adviser
Religare Capital Markets
Peter Trevelyan-Clark/Ben Jeynes	020 7444 0800
Broker
Simple Investments Ltd
Nick Emerson, Renato Rufus	01483 413500
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.

 

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