Crescent Gold Limited: A$15M Debt Facility Secured

- July 1st, 2010

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5)announced that it has signed a A$15 million Secured Loan Facility Agreement.

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5)announced that it has signed a A$15 million Secured Loan Facility Agreement.

The press release is quoted as saying:

The term of the loan is 12 months with a headline interest rate of 10% plus additional fees and payments. The funds will be used for the staged payment of the recently purchased Laverton Extended Joint Venture tenements (1.1 million gold ounces) and the accelerated development of the defined projects within that package, as well as fund development working capital requirements.

Click here to access the entire press release

Click here to access Crescent Gold Limited Corporate Site

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