|
| Home : Noront Closes US$15.0 Million Loan Facility with Resource Capital Fund V |
|
Feb 27
2013 |
Noront Closes US$15.0 Million Loan Facility with Resource Capital Fund V |
|
TORONTO, ONTARIO--(Marketwire - Feb. 26, 2013) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) is pleased to announce that it has entered into a loan facility with Resource Capital Fund V L.P. ("RCF") in the aggregate principal amount of US$15.0 million (the "Facility"). The Facility is a one year bridge loan (the "Bridge Loan") which matures on February 25th, 2014 and automatically rolls into a convertible loan (the "Convertible Loan") with a maturity date of December 31, 2015, if the Facility is not repaid prior to the Bridge Loan maturity date. The proceeds from the Facility will be used to further the development of the Company's advanced stage Eagle's Nest nickel, copper, platinum, palladium project; for working capital and for corporate requirements. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1761644&sourceType=3 |
| |
|
Related News
|
» Rodinia Lithium Secures $2 Million Stand-by Credit Facility from Key Shareholder
» Inside Organized Retail Crime Raids
|
|
|
