Locke Capital and AVZ Minerals execute US$20 million term sheet
Locke Capital and Australian company AVZ Minerals have signed a binding term sheet to provide a pathway for the execution of a formal agreement for a general working capital and litigation funding facility of up to US$20 million.
AVZ and Locke will negotiate in good faith to execute a formal agreement as soon as possible or in any case before 31 March 2024. The funding is subject to due diligence by Locke and approval of its Investment Committee.
The funds will be used to cover corporate, legal and project costs as the company resolves various legal issues related to the Manono Project in the DRC.
Further information can be found here.