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New Energy Minerals Ltd (ASX:NXE) Settlement of Disputes with Arena    OTCMKTS:MTTGF) announces that it has reached a settlement with Arena Structured Private Investments (Cayman) LLC ( Arena ), in relation to a $2.5 million (face value) convertible note facility provided to the Company which has been the subject of a claim by Arena and counterclaim by New Energy following the termination of the Convertible Note Deed in November 2018. The Convertible Note Deed was executed on 5 January 2018 and followed by an Amendment Deed executed on 22 May 2018 and a Consent Deed executed on 13 August 2018. New Energy has previously announced that Arena commenced proceedings against the Company in the Supreme Court of Western Australia whereby it sought declarations and orders that New Energy is liable to pay Arena the outstanding Principal Amount of $2,500,000, a Termination Payment of $2,535,000, interest and legal costs.

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