Avanti Mining Issues Shares in Lieu of Cash for Interest Payable Under Terms of Bridge Loan

- January 14th, 2011

Avanti Mining Inc. (CVE:AVT) reports that under the terms of bridge loan it has issued shares in lieu of cash.

Avanti Mining Inc. (TSXV:AVT) reports that under the terms of bridge loan it has issued shares in lieu of cash.

The press release is quoted as saying:

According to the terms and conditions set out in the Loan Agreement, RCF has the option to receive interest payments in the form of common shares of Avanti. RCF has made a request to receive the interest payable on the bridge loan in the amount of US$100,000.00 in common shares, and Avanti will deliver to RCF 328,348 common shares in satisfaction of the accrued interest payable for the period from October 1, 2010 to December 31, 2010.

Click here to access the entire news release.

Click here to access Avanti’s company profile.

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