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| Home : Banro and Gold Holding Advance Toward Definitive Agreements for Banro's US$121 Million Financing |
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Oct 15
2014 |
Banro and Gold Holding Advance Toward Definitive Agreements for Banro's US$121 Million Financing |
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TORONTO, CANADA--(Marketwired - Oct. 15, 2014) - Banro Corporation ("Banro") (NYSE MKT:BAA)(TSX:BAA) is pleased to announce that, pursuant to the memorandum of understanding announced by Banro on August 18, 2014, it is progressing towards finalizing the definitive agreements with Gold Holding Ltd. ("Gold Holding") for the two gold sale transactions to raise US$121 million in financing for Banro, the first such transaction for US$41 million relating to the Twangiza mine and the second transaction for US$80 million relating to the Namoya mine. Banro and Gold Holding expect to sign the definitive agreement related to the Twangiza transaction in one week to 10 business days and to close this transaction within a month. |
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| Source:http://www.marketwired.com/mw/release.do?id=1957818&sourceType=3 |
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