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Bayswater Arranges $25 Million Financing for Reno Creek Acquisition
Mar. 03, 2010 09:19AM PST
Resource Investing News Bayswater Uranium reports it has arranged a $25 million financing for the purpose of completing the acquisition of a 100% interest in the Reno Creek property. The Company and PRRF will enter into a shareholders’ agreement in respect of Newco which will permit Bayswater to contribute additional amounts to Newco in order to achieve a 50% ownership interest. In …
Bayswater Uranium reports it has arranged a $25 million financing for the purpose of completing the acquisition of a 100% interest in the Reno Creek property.
The Company and PRRF will enter into a shareholders’ agreement in respect of Newco which will permit Bayswater to contribute additional amounts to Newco in order to achieve a 50% ownership interest. In addition, the parties have agreed to appoint Bayswater as the initial project manager. If the shareholder approval for PRRF to become a control person of the company is not obtained, PRRF will have a call right to purchase all of Bayswater’s shares in Newco.
For complete press release, click here.