Avanti Mining Closes Restructuring Of US$20 Million Bridge Facility And Additional US$10 Million Bridge Facility

Avanti Mining Inc. (TSXV:AVT), together with its wholly owned subsidiary Avanti Kitsault Mine Ltd., announced the closing of the previously announced restructuring and extension of its existing US$20 million bridge loan with CEF Holdings Limited and Resource Capital Fund IV L.P. and additional US$10 million secured bridge loan from Resource Capital Fund VI L.P.

As quoted in the press release:

The purpose of the loans is to provide the Company with additional time to provide debt, equity and strategic partnership financing that will allow for the project financing and subsequent development of the Kitsault Mine Project in northern BC.

CEF Holdings Limited is a Hong Kong incorporated company and is 50% owned by Cheung Kong (Holdings) Limited, a company listed on the Main Board of the Hong Kong Stock Exchange, and 50% owned by Canadian Imperial Bank of Commerce of Canada. CEF operates a natural resources fund that principally invests in mining ventures.

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