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| Home : MagIndustries Financing Update |
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Jan 03
2015 |
MagIndustries Financing Update |
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TORONTO, ONTARIO--(Marketwired - Jan. 2, 2015) - MagIndustries Corp. (TSX:MAA) (the "Company" or "MagIndustries") announced on November 13, 2013 that it had received a Letter of Commitment (the "LOC") from the China Development Bank ("CDB") related to the majority of the funding required to complete the construction of its proposed 1.2 million tonnes per annum Mengo Potash Project in the Republic of Congo (the "Mengo Project"). The Company's loan application to CDB remains active. The Company understands that delays in approval of the application relate to a more conservative lending environment and tighter fiscal controls in China. MagIndustries continues to work toward approval of the CDB loan but can provide no guidance at this time as to the timeline or outcome of the approval process. |
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| Source:http://www.marketwired.com/mw/release.do?id=1979997&sourceType=3 |
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