Deep Sea Mining Finance Ltd

Nautilus receives additional loan

The loan is made under the previously announced loan agreement between Nautilus, two of its subsidiaries and Deep Sea Mining Finance Ltd.

Deep Sea Mining Finance Ltd is providing Nautilus a secured structured credit facility of up to US$34 million (K105 million).

The loans will fund the Company's working capital requirements to continue the advancement of the Solwara 1 Project while the Company seeks the remaining project financing of up to approximately US$350 million to complete the development of the project.

K1bn needed for Solwara 1

Nautilus Minerals Inc. revealed this when announcing the appointment of its exclusive financial advisor – Deep Sea Mining Finance Ltd (DSMF).

In a statement, the Canadian company indicated that a remaining project financing of US$350 million was needed, which DSMF will be leveraging, to complete the build and deployment of the seafloor production system to be utilised at the Solwara 1 Project.