Terramin Australia Limited (ASX: TZN) (Terramin or the Company) is pleased to announce that its subsidiary, Terramin Exploration Pty Ltd has entered into an agreement with major shareholder Asipac Group Pty Ltd (Asipac) to restructure its Standby Term Facility.

The existing secured facility has been increased to $20.8 million on similar terms. As a long-standing supporter of Terramin, Asipac has agreed to increase its total debt facility to $26.8 million (of which $26.5 million has been drawn to date) and enables the Company to execute its corporate strategy while the Company reviews its long-term financing. The Company has approached the ASX for a waiver from listing rule 10.1

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