**Summary**
Bradda Head Lithium Limited (AIMBHL), a North America-focused lithium development group, has entered into a short-term loan facility agreement ("Galloway Facility") with Galloway Limited, a related party. The US$500,000 unsecured loan is intended for general working capital purposes and is part of Galloway Limiteds commitment to support the companys operations. Key terms include
**Amount:** US$500000
**Term** One year availability and repayment
**Interest** 12% per annum
**Repayment** Accelerated if the company completes an equity fundraising during the loan term
**Security** Unsecured
The transaction is classified as a Related Party Transaction under AIM Rules due to the involvement of directors Jim Mellon (100% owner of Galloway Limited) and Denham Eke (Managing Director of Galloway Limited). Independent directors Ian Stalker, Alex Borrelli, and Euan Jenkins, after consulting with the Nominated Adviser, deemed the terms fair and reasonable for shareholders.
The company operates lithium projects in Arizona, Nevada, and Pennsylvania, with its most advanced projects being the Basin Project and the San Domingo Project in Arizona. Bradda Head is listed on the AIM market of the London Stock Exchange under the ticker BHL.
**Contact Information**
Key contacts include representatives from Bradda Head Lithium, Beaumont Cornish (Nominated Adviser), and joint brokers Panmure Liberum and Shard Capital.
**Disclaimer**
The announcement contains inside information under the Market Abuse Regulation (EU) No. 596/2014 and is now in the public domain. RNS, the news service of the London Stock Exchange, provided this information, which is subject to terms and conditions.