100 Parry Street
PERTH WA 6000
PO Box 7516
CLOISTERS SQUARE WA 6850
Tel: (+61 8) 9322 7575
Fax: (+61 8) 9322 9485 info@prosperity.net.au www.prosperity.net.au
11 October 2013
LOAN TERMS EXTENDED
Prosperity Resources Limited (ASX: PSP, "Company") is pleased to advise the variation of repayment terms for the credit facility originally advised to the market on 15 February 2012.
The latest terms are summarised as follows:
Lender: Resource Global Finance Ltd
Original Amount: USD1,000,000
Outstanding Amount: USD500,000
Interest rate: Nil
Original due date: 31 March 2013
New due date: On or before 26 February 2014 at the Lender's option
Repayable: By the issue of shares in the Company (subject to shareholder approval)
Conversion price: The lower of $0.006 or the volume-weighted average share price for the 20 trading days prior to the Company's 2013 Annual General Meeting per share (subject to shareholder approval). The number of shares to be calculated by reference to the Reserve Bank of Australia's published USD/AUD exchange rate for the conversion date, rounded to the nearest whole share.
Other loan terms: Unchanged
Loan extension fee (subject to shareholder approval): Fully paid ordinary shares in the Company as follows:
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