The Conversation (0)
Avanti Mining Inc. (TSXV:AVT) has made a payment of 387,926 common shares in satisfaction of the accrued interest payable for the period from December 7, 2011 to December 31, 2011 for the bridge loan facility with Resource Capital Fund IV L.P. (“RCF”).
As quoted in the press release:
Avanti Mining Inc. (TSX VENTURE: AVT) (“Avanti” or the “Company”) announced today that in accordance with the terms of a bridge loan facility (the “Loan Agreement”) dated December 6, 2011 between Avanti and Resource Capital Fund IV L.P. (“RCF”), Avanti has made an interest payment in the amount of CAD$39,452.05 on the bridge loan for the period from December 7, 2011 to December 31, 2011. 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 CAD$39,452.05 in common shares, and Avanti will deliver to RCF 387,926 common shares in satisfaction of the accrued interest payable for the period from December 7, 2011 to December 31, 2011. The shares will be subject to a four-month hold period.
Click here to read theAvanti Mining Inc. (TSXV:AVT) press release
Click here to see the Avanti Mining Inc. (TSXV:AVT) profile.