ADX Energy Ltd.: Variation of Loan Note Agreements

[ Report ]

Wien (pta008/10.01.2025/09:06) - "Extension to March 2026 provides financial flexibility to pursue multiple, immediate growth opportunities"

Key Points:

* The revised terms apply to twenty five (25) Loan Notes of A$50,000 each (A$1.25 million in total) issued in July 2023. Five (5) Loan Notes of A$50,000 each (A$250,000 in total) will be repaid on the original repayment date of 11 January 2025.
* The repayment date of the remaining A$1.25 million principal is31 March 2026 with loan interest rate continuing to accrue. Existing options previously issued in relation to the Loan Notes will lapse on 11 January 2025. New options will be granted for Loan Note holders who have executed variation agreements.
* The agreement by the Loan Note holders to extend repayment provides ADX with the financial flexibility to pursue multiple identified growth opportunities and reposition the Company for further drilling and development activities before requiring access to further capital.
* ADX will immediately focus on the following near term value development and strategic growth opportunities:
* further evaluation and testing of the Welchau-1 well,
* further oil appraisal and development activities in Upper Austria,
* pursuing a multi target - low risk, shallow gas exploration play in Upper Austria,
* ongoing portfolio development in Upper Austria,
* the potential licencing of its Sicily Channel exploration permit offshore Italy, and
* an ongoing partnership formation program to fund ongoing activities.

For more details please see the PDF file.

(Ende)