Avanti Mining Issues Shares in Lieu of Cash for Interest Payable Under Terms of RCF Bridge Loan and RCF Preconstruction Loan ...
August 01 2014 - 8:30PM
Marketwired Canada
Avanti Mining Inc. (TSX VENTURE:AVT) ("Avanti" or the "Company") announced today
that in accordance with the terms of the Amended and Restated Loan Agreement
(the "Bridge Loan") dated July 12, 2013, between Avanti, its wholly-owned
subsidiary, Avanti Kitsault Mine Ltd. ("AKM"), CEF (Capital Markets) Limited,
Resource Capital Fund IV, LP ("RCF IV") and Resource Capital Fund VI, LP ("RCF
VI"), Avanti has made interest payments in the aggregate amount of
US$1,472,222.21 for the period from October 1, 2013 to June 30, 2014 by
delivering to RCF IV 13,267,622 common shares and to RCF VI 12,676,066 common
shares. In addition, in accordance with the terms of its Preconstruction Loan
Agreement dated December 19, 2013 between Avanti, AKM and RCF VI, Avanti has
made interest payments in the amount of US$1,102,222.22 for the period from
December 20, 2013 to June 30, 2014 by delivering to RCF VI 16,196,231 common
shares.
The Company has also paid the Tranche A extension fee of US$500,000.00 and
Tranche B establishment fee of US$500,000.00 to RCF IV in accordance with the
terms of the Bridge Loan by delivering to RCF IV an aggregate of 21,296,000
common shares. All such shares will be subject to a four-month hold period.
For further information, please visit www.avantimining.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avanti Mining Inc.
Shawn Howarth
Vice President, Corporate Development and Investor Relations
(416) 847-0376
Avanti Mining Inc.
Graham du Preez
Chief Financial Officer
(416) 847-0376
www.avantimining.com