Avanti Mining Inc.(TSXV:AVT) announced making an interest payment on the bridge loan with Resource Capital Fund IV L.P.
As quoted in the press release:
According to the terms and conditions set out in the Loan Agreement, RCF has the option to receive interest payments in the form of common shares of Avanti. RCF has made a request to receive the interest payable on the bridge loan in the amount of US$100,000.00 in common shares, and Avanti will deliver to RCF 981,731 common shares in satisfaction of the accrued interest payable for the period from October 1, 2011 to December 31, 2011. The shares will be subject to a four-month hold period.
|Get the top stories on resource investing FREE! Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.|