(“Iofina” or the “Company”)
(LSE AIM: IOF)
Iofina, a specialist in the exploration and production of iodine and manufacturers of specialty chemical products, today provides a brief update to the market regarding debt refinancing.
The Company is pleased to report continued positive progress regarding debt refinancing with a new USA lender (the “Lender”). The necessary internal approvals have now been obtained by the Lender and therefore the transaction is now in the final legal documentation phase. The specifics of the transaction will be detailed to the market once documentation is complete and finalised. General terms include a term loan as well as a revolving line of credit which will allow Iofina to fully pay current debt holders. The Company and its new lender are both pushing to complete this transaction as soon as practically possible.
Commenting, President and CEO of Iofina Dr. Tom Becker, stated: “We are pleased that we are now in the final documentation phase of debt refinancing and we look forward to updating the market as to its conclusion in due course.”
Dr. Tom Becker
CEO & President
Tel: +44 (0)20 3006 3135
Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)
Tim Redfern (ECM)
Tel: +44 (0)20 7220 0500
Charles Goodwin/Joe Burgess
Yellow Jersey PR Limited
Tel: +44 (0)20 3004 9512
Iofina plc (AIM: IOF) is a vertically integrated Company that specialises in the production of Iodine and the manufacturing of specialty chemical products. As the second largest producer of iodine in North America, it comprises three USA entities; Iofina Resources, Iofina Chemical and IofinaEX.
Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina’s WET® IOsorb® technology. Iofina currently operates five producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 35 years.
Iofina’s newest subsidiary, IofinaEX, is fully licensed to process hemp in the state of Kentucky and is exploring the isolation of specialty chemical products from hemp, a rapidly expanding market.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.