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| Home : Santa Fe Gold Obtains Financing to Move Forward With Columbus Silver Acquisition |
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Dec 27
2011 |
Santa Fe Gold Obtains Financing to Move Forward With Columbus Silver Acquisition |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 27, 2011) - Columbus Silver Corporation (TSX VENTURE:CSC) ("Columbus Silver") is pleased to announce that Santa Fe Gold Corporation (OTCBB:SFEG) ("Santa Fe") has announced it has obtained conditional debt financing to complete its acquisition of Columbus Silver. Santa Fe obtaining such financing was a condition required under the definitive acquisition agreement with Columbus Silver to be satisfied on or before December 31, 2011. Columbus Silver has reviewed Santa Fe's credit agreement and is satisfied with its form and content and with the conventional nature of the remaining conditions, including without limitation Santa Fe obtaining a successful title opinion on Columbus Silver's Mogollon property, the implementation of security interests over certain assets of Santa Fe and ultimately Columbus Silver, and several other requirements many of which are standard in financing agreements. Now that Santa Fe has obtained the conditional credit agreement, its acquisition of Columbus Silver remains subject to Columbus Silver shareholder approval, as well as court and other applicable regulatory approvals. |
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| Source:http://www.marketwire.com/mw/release.do?id=1602025&sourceType=3 |
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