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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2012) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to announce that it has entered into an agreement with Sprott Resource Lending Partnership ("Sprott Lending") pursuant to which Sprott Lending has provided a $5 million secured credit facility. The credit facility is repayable on December 31, 2012 and bears interest at the rate of 12% per annum, payable monthly in arrears. The facility can be prepaid in whole or in part without penalty provided a minimum of six months interest is paid and is secured by general security over the present and after-acquired property of the Company and its subsidiaries. Proceeds of the facility will be used to fund a portion of the option exercise price in connection with the Company's acquisition of an indirect 90% interest in the Goulagou, Rounga, Tougou and Youba properties (the "Properties") in Burkina Faso, West Africa. |
