With this facility, Ventnor's shares on the ASX can re-commence trading.
Interest is payable at 10% per annum on drawn down amounts and with 1 million options to be issued to the investors.
Sandfire will initially acquire a 35% interest in the project by paying $3 million upfront directly to Ventnor.
Sandfire can then acquire an additional 16% (total 51%) for the second $3 million tranche, and 29% (total 80%) for the third $3 million.
The deal stuck in October was aimed at a fast-track for Ventnor's Thaduna/Green Dragon copper project into production.
The transaction comprised a farm-in, funding and toll treatment agreement with Sandfire to advance the project to production utilising its production facilities at its DeGrussa copper project.
Thaduna/Green Dragon is located 40 kilometres from DeGrussa.
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