Terramin Australia (ASX:TZN) has announced an extension of its financial arrangements. Its subsidiary, Terramin Exploration Pty Ltd (TEX), has increased the unsecured Standby Term (No. 2) Facility to $2.425 million with Asipac Group. The loan terms have been extended to June 30, 2025, to support the company's long-term financing strategy.
Terramin Australia (ASX:TZN) has strengthened its financial footing by increasing its Standby Term Facility with Asipac Group to $2.425 million. The extension of the loan terms until June 2025 signifies continued support from Asipac and aligns with Terramin's strategic objective to develop long-term financing solutions. These measures, approved by the board and independent non-executive directors, aim to support Terramin's corporate strategy and operational growth.
The increased financial facility and the extension of loan terms reflect the ongoing support from Asipac, who is a long-standing supporter and major shareholder of Terramin.