Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FWB:CR5) closed its $5,700,000 private placement of senior secured notes, and paid in full its debt to certain affiliates of Luxor Capital Group, LP., secured creditors of the Company, as demanded by Luxor on July 24, 2013.
As quoted in the press release:
The Company has completed a private placement (“Placement”) of senior secured notes (“Notes”) in the aggregate principal amount of USD 5,700,000 with entities (“Lenders”) controlled by Mr. Robert C. Kopple of Los Angles, California. The net proceeds of the Notes were used to pay the Indebtedness owing to Luxor immediately following closing.
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