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Metgasco Limited (ASX:MEL)
ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 -0.004 (-25%)+
Announcement
Release
20 May 2026 9:16AM
Price at Release
$0.016
Full Release
Summary
Metgasco Limited has announced the acceptance of a bridging loan facility from Glennon Small Companies Limited for A$500,000. This loan, bearing an interest rate of 10% per annum, is intended to meet Metgasco's short-term capital and working capital requirements while the company works on restructuring its debt stack. This restructuring is a key condition tied to the advancement of the bridging facility. The announcement was approved by Metgasco's Board and aims to address immediate financial needs.
Key Points
- Metgasco Limited accepts A$500,000 bridging loan facility.
- Loan provided by Glennon Small Companies Limited.
- Interest rate set at 10% per annum.
- Purpose is to meet short-term capital and working capital requirements.
- Restructuring of Metgasco's debt stack is a condition of the loan.
- Announcement authorized by Metgasco's Board.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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