Resource Mining Corporation Obtains AU$1 Million Funding for Mpanda Project

Resource Mining Corporation Limited (ASX: RMI) has secured a funding agreement with RiverFort Global Capital Ltd for a bridging loan of up to AU$1,000,000. An initial amount of AU$500,000 will be provided at the time of execution, with the option for additional drawdowns by mutual consent. The loan comes with a 10% fixed interest rate and a four-month term, backed by a first-ranking security over RMI and its subsidiaries.

 If the loan is not repaid by the due date, it can either be extended for 12 months under new terms or converted into company shares at a discounted rate. As part of the agreement, RiverFort will receive 5 million options (exercisable at AU$0.0225), with an additional 10 million options issued if the loan term is extended. The funds will be used to support exploration activities at the Mpanda Copper-Gold Project in Tanzania and for general corporate purposes.

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