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Nevada Copper Announces Red Kite Funding Commitment and Equity Financing Terms
May. 27, 2016 11:00AM PST
Base Metals Investing Nevada Copper Corp. (TSX:NCU) announced that its senior secured lender, EXP T1 Ltd., an affiliate of Red Kite Mine Finance has agreed to certain amendments to the senior loan agreement between the Company and Red Kite which waive all existing defaults under the senior loan facility.
Nevada Copper Corp. (TSX:NCU) announced that its senior secured lender, EXP T1 Ltd., an affiliate of Red Kite Mine Finance has agreed to certain amendments to the senior loan agreement between the Company and Red Kite which waive all existing defaults under the senior loan facility.
The Company expects to close the US$5 million of Pala convertible debt draw and the Red Kite US$3 million debt draw on or about June 3, 2016. The funds will be used to maintain the Pumpkin Hollow property permits and licences in good standing, and evaluate opportunities for enhancing project economics in a lower copper price environment.
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