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TORONTO, ONTARIO--(Marketwired - Feb. 26, 2016) - Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) announces that, further to its February 16, 2016 press release, it has closed the remaining US$31.25 million of its previously announced financing (the "Financing"), comprising a US$22.5 million term loan funded by RFW Banro Investments Limited ("RFWB"), a subsidiary of the Baiyin Stream Partnership I, LP, (a mining investment fund managed by Resources FinanceWorks Limited), and investment funds managed by Gramercy Funds Management LLC ("Gramercy") and an US$8.75 million equity private placement to RFWB. The Baiyin Stream Partnership I, LP is led by Baiyin Nonferrous Group Co., Ltd., a strategic Chinese mining group based in Gansu, China. |
