Kropz makes final drawdown under bridge loan via ARC Fund

By Marisa Wong

Los Angeles, Oct. 28 – Kropz plc had entered into a new bridge loan facility of ZAR 126 million with its major shareholder, the ARC Fund, to meet immediate cash requirements due to delays in the ramp up of operations at Kropz Elandsfontein (Pty) Ltd. The loan was announced on Sept. 30, according to a Friday press release.

The first drawdown on the loan for an amount of ZAR 60.5 million was made on Oct. 6. The second and final drawdown for an amount of ZAR 65.5 million was made on Friday.

Kropz and ARC Fund are working on a comprehensive funding structure to finance any further funding requirements in Kropz.

Kropz is an African phosphate producer and developer with headquarters in the United Kingdom.

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