Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU) (Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU), Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU), Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU)) Colm Cloonan tells Proactive the 50mln Botswana pula (US$5mln) convertible loan note with Botswana Public Officers Pension Fund (BPOPF) was a 'fantastic result for company'.
The firm has also agreed terms for an equity investment by BPOPF. The funds are planned to be used to finance construction of transmission line infrastructure to connect the Lesedi project to the Botswana Power Corporation power grid.
It also plans to fund the installation of generation assets and ancillary costs to facilitate power generation and sale of electricity.