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Metal Storm agrees to credit facility termination terms

Metal Storm agrees to credit facility termination terms

Defence technology company Metal Storm (ASX:MST) has finalised the terms for the termination of the credit facility agreement it holds with Global Emerging Markets.

The terms include the repayment of funds that were advanced under a draw down which did not proceed, but this amount will be paid out of Metal Storm's existing cash reserves, the company said.

Metal Storm had completed two draw downs before the parties agreed to terminate the facility.

MST shares are today trading unchanged at $0.009.

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