|
| Home : Timminco Announces Execution of DIP Financing Agreement |
|
Jan 19
2012 |
Timminco Announces Execution of DIP Financing Agreement |
|
TORONTO, ONTARIO--(Marketwire - Jan. 19, 2012) - Timminco Limited (TSX:TIM) and its wholly-owned subsidiary Bécancour Silicon Inc. (collectively, the "Company") announced that the Company has secured a commitment for "debtor-in-possession" ("DIP") financing of US$4.25 million (the "DIP Facility"), for the purposes of funding the Company's operating costs, transaction costs and other expenses during the course of the proceedings commenced by the Company under the Companies' Creditors Arrangement Act on January 3, 2012 (the "CCAA Proceeding"). The DIP Facility is being provided by QSI Partners Ltd. (the "DIP Lender") pursuant to the terms and conditions of a DIP Agreement dated January 18, 2012. The DIP Facility expires on June 20, 2012. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1608994&sourceType=3 |
| |
|
Related News
|
» Azumah Undertakes C$20M Capital Raising 250,000m 2012 Drilling Programme Fully Funded
» Tolima Gold Inc. Retains Investor Relations Consultant
|
|
|
