News and Press Releases

Update on Proposed Refinancing

2 September 2014

Further to the announcement of July 16, 2014 (the “Announcement”), the Board can provide the following update in respect of the forbearance agreement with the Bank. The required forbearance payment of $148,000 (including interest and fees) was made on 29 August 2014 utilizing funds provided by Hawker under the terms of the Subordinated Loan.
Hawker and the Company are continuing negotiations for financing to replace the Bank and complete the Tapia joint venture transaction. A definitive closing date has not yet been determined.

Visit www.seftonresources.com or contact:

Keith Morris, Director   Tel: 0207 448 5111
Nick Harriss, Nick Athanas, Allenby Capital (Nomad) Tel: 0203 328 5656
Neil Badger, Dowgate Capital Stockbrokers (Broker) Tel: 01293 517744