Wolf Minerals Limited Funding Update (6588X)

TIDMWLFE

RNS Number : 6588X

Wolf Minerals Limited

14 August 2018

Wolf Minerals Limited

("Wolf" or the "Company")

Funding Update

Further to its announcement on 30 July 2018, specialty metals producer Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) has now executed all necessary full form standstill and amended and restated agreements relating to the Company's debt facilities with its existing senior lenders (Senior Debt) and bridge loan facility (Bridge Facility) with Resource Capital Fund VI L.P. (RCF VI) to support Wolf's short-term working capital requirements until 28 October 2018.

The Company has received guarantor consent from the German government's Untied Loan Guarantee Scheme (Ungebundene Finanzkreditdeckung - UFK) to enter into and implement the relevant agreements, which (amongst other things) confirm the deferral of principal, interest and other amounts that were due in relation to the Senior Debt at the end of July 2018.

In addition, the Company has received:

-- the initial tranche of GBP2 million from the additional GBP4 million, secured priority loan (Priority Bridge Loan) under the amended and restated Bridge Facility; and

-- the initial GBP0.9 million of the GBP1.7 million available from the cash balance previously restricted for use on the noise and vibration management plan.

The further standstill arrangements provided for by the agreements will commence on satisfaction of the relevant conditions precedent, which Wolf expects to take place within the next few days. Those arrangements include certain waivers of, and amendments to, the Senior Debt and Bridge Facility conditions for any non-compliance prior to or during the standstill period. The further standstill arrangements terminate on the earlier of 28 October 2018 or the occurrence of specific limited events of default.

ENDS

 
 Wolf Minerals Limited 
  Richard Lucas                       + 44 (0) 17 5239 3235 
 Numis Securities (Nomad & Broker) 
  John Prior / James Black / Paul 
  Gillam                              +44(0)20 7260 1000 
 Newgate 
  Adam Lloyd                          +44 (0) 20 7653 9850

About Wolf Minerals

Wolf Minerals is a dual listed (ASX: WLF, AIM: WLFE) specialty metals producer. In late 2015, Wolf Minerals completed the development of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.

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