- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Avanti Mining Enters Term Sheet for US$40 Million Preconstruction Loan
Avanti Mining Inc. (TSXV:AVT) entered into a binding and committed term sheet with Resource Capital Fund VI L.P. for a preconstruction loan of US$40 million.
As quoted in the press release:
Funding of the US$40 million will take place in multiple tranches. The first tranche of US$10 million will be advanced upon receipt of shareholder approval of the loan transaction with the remaining US$30 million to be advanced in three tranches of US$10 million each on an agreed schedule and upon satisfaction of certain conditions. The investment committee of RCF has approved the term sheet and closing of the PC Loan is subject to satisfactory completion of final loan documents, approval of the shareholders of Avanti, approval of the TSX-V and other customary conditions. There is no certainty that the transaction will close successfully or that the conditions will be met.
Avanti Mining President & CEO, Mark Premo, said:
We appreciate the continued support of RCF in financing the Kitsault project. This new financing will substantially de-risk the project with permitting and detailed engineering activities preceding construction start up next year.
Click here to read the Avanti Mining Inc. (TSXV:AVT) press release
Click here to see the Avanti Mining Inc. (TSXV:AVT) profile.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â