Avanti Mining Extends Maturity Date of US$20 Million Bridge Loan to July 12, 2013
Avanti Mining Inc. (TSXV:AVT), together with its wholly owned subsidiary Avanti Kitsault Mine Ltd., reported the extension of the maturity date to to July 12th, 2013, of the previously announced US$20 million secured bridge loan with CEF Holdings Limited and Resource Capital Fund IV L.P. that matured on June 29th, 2013.
Avanti Mining Inc. (TSXV:AVT), together with its wholly owned subsidiary Avanti Kitsault Mine Ltd., reported the extension of the maturity date to to July 12th, 2013, of the previously announced US$20 million secured bridge loan with CEF Holdings Limited and Resource Capital Fund IV L.P. that matured on June 29th, 2013.
This extension is to allow the Company time to conclude the advanced stage negotiations with the Lenders regarding a new loan of US$10 million together with the extension of current US$ 20 million loan. Both loans would have a new maturity date of December 31, 2014. There can be no assurance the new loan will be completed. The transaction requires TSX Venture Exchange approval and completion of definitive documentation.
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