Edenville Energy - Re: EDL Stream Log - Please see response I have...

Please see response I have received from Edenville yesterday:In response to your questions: The Board of Edenville decided to raise funds through the global financial institution to secure a significant amount of cash, under fixed and pre-agreed terms, for the progression of its Tanzanian coal project. The discount rate is in line with similar fundraisings for coal and energy companies in what is a very difficult market. The Darwin Equity Line Facility has been successfully used in the past to raise smaller amounts of cash for working capital. However, a drawdown of this size would have taken a significant amount of time with no guarantee of either placing price or final amount of money raised. The funds are being used to continue ongoing discussions with potential partners in the development of the coal to power project. We are currently unable to disclose the name of the financial institution that took part in the placing, as per the terms of our agreement with them. The Board of Directors are confident they will move Edenville's project forward, with financial security allowing the consideration of options in a calm and logical way, providing the optimal outcome for our shareholders in the long term. The company will only issue an RNS once it has material news to report. The board are in discussions with potential partners, as mentioned in the announcement dated 17 January 2014 and will hopefully have material news on this in due course. Many thanks Camilla Horsfall Financial PR