Repayment of Glencore loan
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Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) is pleased to announce that, following the completion of the block sale of ZIOC shares by Shard Merchant Capital Ltd ("SMC") and share subscriptions by Glencore and Mr Clifford Elphick (Non-Executive Chairman of ZIOC), the Company has repaid the entirety of its loan to Glencore.
The Company is now debt free, which is a positive step in enabling the advancement of further discussions with potential strategic partners.
Clifford Elphick, Chairman of ZIOC commented:
"Following today's repayment of Glencore's loan I am delighted to inform shareholders that ZIOC is debt free. This is key to supporting management's engagement with strategic partners, and I look forward to the management team progressing the next phase of this initiative."
The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.
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