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| Home : Forbes Coal Reports Progress on Loan Facility |
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Jan 16
2014 |
Forbes Coal Reports Progress on Loan Facility |
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TORONTO, ONTARIO--(Marketwired - Jan. 15, 2014) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) ("Forbes Coal" or the "Company") is pleased to provide additional information on the proposed up to US$25 million financing (the "Financing") to be provided by Resource Capital Fund V L.P. (the "Lender" or "RCF") comprising: (i) a bridge loan (the "Bridge Loan") in the principal amount of US$4 million, (ii) a convertible loan (the "Convertible Loan") in the principal amount of up to US$15 million; and (iii) a refinancing (the "Refinancing") of the existing US$6 million convertible loan facility that was completed by the Company with RCF on September 6, 2013 (the "Existing RCF Loan"), as previously announced on December 31, 2013. |
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| Source:http://www.marketwired.com/mw/release.do?id=1869613&sourceType=3 |
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