Alita gets an offer from Chinese heavyweight

ASX-listed Alita Resources, which went into administration earlier this year, has entered into a $70-million loan facility agreement with China Hydrogen Energy (CHE), while it mulls a deed of company arrangement (DOCA) with the Chinese group.

The funds from the loan facility agreement will be used to repay all outstanding senior secured debt facilities with creditor Galaxy Resources, as well as to fund working capital.