The initial funding commitment will be provided within seven business days.

Lind’s initial A$7.5 million investment will be provided as a Secured Convertible Note (‘Note 1’) with a 24 month term, the proceeds of which will be used, along with Blackham’s current cash, to fully repay A$13 million of short term secured debt owed to Orion Fund JV Limited. With the Orion debt fully repaid, Blackham will be able to re‐direct operational cash flows to expand its reserves and finalise the Wiluna Expansion Definitive Feasibility Study.

The Funding Agreement includes repayment provisions that allow for conversion into Blackham shares (‘Shares’), optional cash payments, or early repayment at the Company’s sole discretion at any time.  A lock‐up provision restricts conversion of debt into Sharesfor four and a half months until 14 February 2019, two weeks after the expiry of the Company’s 534 million listed options which are exercisable at 8 cents per Share.  Any proceeds from the exercise of listed options will be directed to repaying Note 1.

Blackham’s Managing Director, Bryan Dixon, stated: “Blackham has significantly boosted its gold production since January 2018.  The current financing from Lind will remove short term debt service payments, improve our balance sheet and allow us to reallocate operating cash flows to expand production levels. The Lind Partners has been a long‐time supporter of and investor in Blackham, and we are pleased to continue our relationship with Jeff Easton and The Lind Partners.”

Lind’s Managing Director, Jeff Easton, said: “We have been following Blackham since Lind’s first investment in 2012 and have seen them evolve from an explorer to a gold producer with a 6.7Moz resource and a considerable growth story. We are thrilled to invest in Blackham again and support management’s strategic plans to expand operations to be one of Australia’s most significant gold mines.”

Source: Company Press Release