Toro Energy Limited (ASX:TOE) A$12m Macquarie Bank Facility - Tranche 2 proceeds of A$4m received

WA-focused uranium developer, Toro Energy Limited (ASX:TOE), is pleased to announce that it has received A$4 million from the drawdown of Tranche 2 of a A$12 million convertible debt facility ("Facility") with Macquarie Bank.

As part of the Tranche 2 transaction, Macquarie Bank has been issued 35,714,286 options in Toro at an exercise price of A$0.084 per option and an expiry date of 7 March 2016.

Today's receipts complete the drawdown of the full $12m under the terms outlined in the TOE ASX announcement of 1 November 2012.

About Toro Energy Limited

Toro Energy is a modern Australian uranium company with progressive project development, acquisition and growth. The company is based in Adelaide, South Australia with a project office in Perth, Western Australia.

Toro’s flagship and wholly-owned Wiluna uranium project (includes existing mining lease) is 30 kilometres southeast of Wiluna in Central Western Australia.

Wiluna contains two shallow calcrete deposits, Lake Way and Centipede, with prefeasibility and optimisation studies completed and a definitive feasibility study underway. Toro has advanced the Approvals process with an anticipated date of mid-2012, construction through 2013 and first uranium sales in 2014.

Toro has a new uranium project at Theseus in Western Australia, and owns uranium assets in Northern Territory, South Australia and in Namibia, Africa.

 

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Toro Energy Limited