June 11 (Reuters) - Ark Mines Ltd AHK.AX :
* AGREED IN PRINCIPLE TERMS WITH CHAN INVESTMENTS LIMITED TO PAY DOWN AND PAY OUT CHAN'S DEBT OVER AN AGREED PERIOD OF TIME
* CO WILL ALSO BE ABLE TO RAISE CAPITAL AND A DEBT FACILITY TO PURSUE MINING AT ITS GLENCOE PROJECT, ACQUIRE OTHER GOLD MINING ASSETS