Bowen Coking Coal Ltd. announced that the proposed Marketing Joint Venture and Finance Facility with M Resources Trading Pty Ltd, previously the subject of a non-binding Term Sheet is now binding, with the parties having agreed the terms of full form Transaction Documents, conditional on approval by the company's shareholders. as announced in 21 November 2019, the company and M Resources, a related entity of Mr. Matt Latimore (a substantial holder of BCB), had previously agreed to negotiate in good faith and use all reasonable endeavors to enter formal agreements to establish a joint venture to market, promote and sell, all coking coal produced by and from any of BCB's existing coking coal portfolio, as well as third party coal for blending purposes as well as for an affiliate of M Resources to provide BCB with a finance facility of up to $15 million, to be utilized in funding the development of BCB's Isaac River Coking Coal Project, or any other of BCB's coking coal projects, as the case may be (together the Transaction Documents). All negotiations have now been completed and the Transaction Documents are in agreed form, with the parties having signed a binding overarching Umbrella Agreement. Importantly, the main agreed form Transaction Documents will be signed after and therefore remain conditional upon BCB obtaining shareholder approval at a General Meeting of Shareholders to be held as soon as practically possible and in any event within four months of signing the Umbrella Agreement. To this end, the Company will dispatch an appropriate Notice of Meeting and Explanatory Memorandum as soon as it is finalized.