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| Home : Silver Bear Agrees to a Private Placement Financing of C$11.22 Million in Two Tranches of Convertible Notes |
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Oct 09
2015 |
Silver Bear Agrees to a Private Placement Financing of C$11.22 Million in Two Tranches of Convertible Notes |
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TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce that the Company's major shareholders, A.B. Aterra Resources Ltd. ("Aterra") and Inflection Management Corporation ("Inflection"), have agreed to supply the Company with loans in the aggregate principal amount of C$11,220,000 (the "Financing") to address the Company's immediate financial needs. The Financing has been negotiated on an arm's-length basis, following the significant time spent by management of the Company approaching potential investors, private equity groups, investment funds, corporations and investment banks in an effort to obtain additional funding to develop the Mangazeisky Silver Project. It is the view of the Company's management and directors that the Financing will enable Silver Bear to maintain its development activities at site as they seek the remaining project financing. |
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| Source:http://www.marketwired.com/mw/release.do?id=2062451&sourceType=3 |
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