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| Home : Mega Precious Metals Announces Convertible Note Financing Agreement With Pacific Road Resources Funds for Up to US$40 Million With an Initial Tranche of US$3.0 Million |
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Dec 05
2013 |
Mega Precious Metals Announces Convertible Note Financing Agreement With Pacific Road Resources Funds for Up to US$40 Million With an Initial Tranche of US$3.0 Million |
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THUNDER BAY, ONTARIO--(Marketwired - Dec. 4, 2013) - Mega Precious Metals (TSX VENTURE:MGP) ("Mega" or the "Company") and the Pacific Road Resources Funds ("PRRF" or "Pacific Road") are pleased to announce that they have entered into an agreement (the "Definitive Agreement") pursuant to which Pacific Road has agreed to invest approximately US$3.0 million in Mega. Pursuant to the terms of the Definitive Agreement, Pacific Road will have the right to invest three additional tranches for a total investment of up to US$40 million as the Company advances the Monument Bay Project. The cumulative funding from Pacific Road, should each tranche be exercised, will allow the Company to fully fund the technical studies required to advance the project to feasibility, including a preliminary economic assessment in 2014 and a pre-feasibility study thereafter. |
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| Source:http://www.marketwired.com/mw/release.do?id=1859234&sourceType=3 |
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