hao tian resources group ltd (474) Snapshot

On 6 May 2013, Hao Tian Resources Group Limited entered into the Facility Agreement with a bank, pursuant to which the bank will make available to the company a term loan facility of up to an aggregate of $40,000,000 with a final maturity date falling three months after the Utilisation Date. The Facility Agreement imposes, among other things, certain specific performance obligations on the substantial shareholders of the company.

Reference is made to the announcements of the Hao Tian Resources Group Limited dated 6 September 2012 and 10 September 2012, respectively in connection with the issue of, and subscription for, the Notes in the aggregate principal amount of up to $40,000,000 due 2013 during the Original Commitment Period. On 11 September 2012, the company issued the Initial Note in the principal amount of $16,000,000 to the Investor. On 1 March 2013, the company entered into the Second Supplemental Deed with the Investor to extend the Original Commitment Period and effect other amendments to the Investment Agreement. The company proposed to issue of a Further Note in the aggregate principal amount of $24,000,000 to the Investor on the same terms and conditions of the Initial Note, save for the issue date. The aggregate net proceeds from the issuance of the Further Note, after deducting expenses payable by the company, are estimated to be approximately $21,960,000. The net proceeds will be used for investment in natural gas and general working capital of the company. On 1 March 2013, the company entered into a second supplemental deed with the Investor to extend the Original Commitment Period and effect other amendments to the Investment Agreement, including: Extension of the Original Commitment Period from 3 months to 9 months, commencing from 11 September 2012; and opening of designated bank accounts by the company with the China Construction Bank Corporation, Hong Kong Branch, for receipt of no less than $40 million or equivalent sum in Hong Kong dollar of the proceeds received from Up Energy Mining Limited in relation to the disposal of Champ Universe Limited made pursuant to the sale and purchase agreement dated 12 October 2012 entered into among the company as vendor, the Purchaser and Up Energy Development Group Limited. The company proposed to further issue a note in the principal amount of $24,000,000 due 2013 pursuant to the Investment Agreement during the Extended Commitment Period. The Further Note will be issued by the company pursuant to the instrument by way of deed poll in respect of the Notes dated 11 September 2012. The Further Note will have the same terms and conditions as the Initial Note. The aggregate net proceeds from the issuance of the Further Note, after deducting expenses payable by the company, are estimated to be approximately $21,960,000. The net proceeds will be used for investment in natural gas and general working capital of the company.

Hao Tian Resources Group Limited, Special/Extraordinary Shareholders Meeting, Feb 22, 2013., at 15:00 China Standard Time. Agenda: To approve the sale and purchase agreement entered into between the company and Up Energy Mining Limited and Up Energy Development Group Limited.