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$5,000,000 Loan Agreement for Avanti Mining and Resource Capital Fund IV L.P.
Dec. 07, 2011 10:56AM PST
Industrial MetalsAvanti Mining Inc.(TSXV:AVT) entered into a loan agreement with Resource Capital Fund IV L.P.. The loan will provide working capital for Avanti to progress with work on their Kitsault molybdenum project.
As quoted in the press release:
As quoted in the press release:
The Loan will accrue interest at a rate of 12% per year, which is payable at the end of each quarter in cash or common shares of the Company, at RCF’s option. If payable in shares, they will be valued at the current market price, subject to TSX-V’s rules. The Loan is secured by the Company’s assets and will rank pari-passu with the Company’s existing convertible loan from RCF.
Click here to read the Avanti Mining Inc. (TSXV:AVT) press release
Click here to see the Avanti Mining Inc. (TSXV:AVT) profile.
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