The US Bankruptcy Court gave an order to General Moly, Inc. to obtain DIP financing on a final basis on December 17, 2020. As per the order, the debtor has been authorized to obtain a credit facility in the amount of $1.4 million from Bruce D. Hansen, Bong T. Hansen and New Moly LLC with New Moly LLC acting as the administrative agent. The DIP loan would either carry an interest rate of 12% p.a. The DIP facility would mature either 35 days after interim order or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.03 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.