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Sutter Gold Mining Inc. (TSXV:SGM,OTCQX:SGMNF) finalized an agreement with RMB Australia Holdings Ltd. where RMB has agreed to increase the existing secured, short term debt facility of US$12 million by US$8 million.
As quoted in the press release:
With this Extended Facility, RMB has now made an aggregate of US$20 million available to the Company, of which US$12 million has been drawn by the Company. In addition, the Facility’s due date has been extended from June 30, 2013 to June 30, 2014 and now bears interest at the rate of LIBOR plus 15% per annum.
The Extended Facility is subject to an arrangement fee of 5% of the Extended Facility, which will be paid to RMB Resources Inc. or to RMB on the first draw down on the Extended Facility.
Click here to read the Sutter Gold Mining Inc. (TSXV:SGM,OTCQX:SGMNF) press release
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