Astur Gold Corp Secures $10 Million Loan Facility

Astur Gold Corp. (TSXV:AST) announced that it has closed a $10 million loan facility with RMB Resources.

As quoted in the press release:

Loan Facility Terms:
3 year term, priced at LIBOR plus 6.0% per annum;
Issuance of 5 million warrants, which will entitle RMB to purchase common shares of Astur Gold for 36 months at an exercise price of $0.62;
RMB’s security package includes a first ranking charge over the Salave Gold Project and a pledge of the securities of EMC;
The Facility is subject to customary convents, conditions, and events of defaults.

Astur Gold’s President and CEO, Cary Pinkowski, said:

Given the challenging commodity and equity markets, we are pleased to close this this financing with RMB and forge ahead with development of the Salave Gold Project. The Facility reflects RMB’s confidence in our management team, gold fundamentals, and our production plans going forward.

To view the whole press release, click here.