Sabre Gold Mines Corp (SGLDF)

[goldenpolarbear]

« .... Kerr Mines announces Project Financing with Sprott Private Resource Lending... »

« ...TORONTO, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is pleased to announce it has received investment committee approval from and executed a term sheet with Sprott Private Resource Lending (Collector) LP (“Sprott”), setting out the indicative terms upon which Sprott is prepared, subject to certain conditions including satisfactory due diligence, to provide up to US$25 million of senior secured project financing (the “Financing Package”) to fund the development and production of gold at the Copperstone Mine.

The Highlights of the Financing Package include:

US$2 million senior redeemable convertible note (the “Note”) with an 9% coupon repayable 18 months after closing

US$2 million senior gold loan facility (the “Gold Loan”) repayable 18 months after closing

US$21 million senior project loan facility (the “Project Facility”) repayable 48 months after closing

The Company will also raise US$2 million in equity as working capital
In order to align with the Company’s current strategic and development plans for the Copperstone Mine, the proposed financing has been structured to be completed and advanced in two main phases, an initial phase of US$4 million (“Phase 1”) , which is targeted to be completed on or about November 23, 2018 subject to mutually satisfactory documentation and other customer conditions precedent; and a second phase of US$21 million which is targeted to be completed on or about June 30, 2019 (“Phase 2”).... »

http://www.sprott.com/

https://kerrmines.com/

http://www.stockhouse.com/news/press-releases/2018/11/06/kerr-mines-announces-project-financing-with-sprott-private-resource-lending

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/54415-kerr-mines-announces-project-financing-with-sprott-private-resource-lending.html

Maddog The KERR AGM will be worth the visit and if I can find the the time... $$$