BLUE SKY BREAKOUT

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BAA~Banro announced $156.5 million financing plan without dilution


Aug 18 2014, 16:06 ET | About: Banro Corporation (BAA) | By: Carl Surran, SA News Editor [Contact this editor with comments or a news tip]

Banro (BAA +4%) says it it has developed a plan to stabilize its financial condition and secure the funds needed to achieve full production capacity at its Namoya mine.
BAA says the financing plan includes the closing of a $35.5M liquidity backstop facility with investment funds managed by Gramercy Funds, and the signing of a memorandum of understanding with a private gold group for a $41M gold forward sale and a $80M gold streaming transaction.
BAA also reaffirms production guidance for its Twangiza and Namoya gold properties, and FY 2014 total guidance.

http://seekingalpha.com/news/1940975-banro-announces-financing-plan-reaffirms-production-guidance

http://wallstreetpr.com/banro-corporation-usa-nysemktbaa-discloses-financing-plan-and-management-changes-28912