Silver Bear Approves Facilities Agreement for Development of Mangazeisky Project, Russia
[Click image to enlarge]
Silver Bear Resources has approved entering into a facilities agreement and certain related security documents with the company’s major shareholders.
The deal is for providing the company and its indirect wholly-owned Russian subsidiary, Closed Joint Stock Company Prognoz, with financing for the final development, construction and commissioning of the company’s Mangazeisky Silver Project in Russia (the “Project”).
“It is with great pleasure we announce the securing of the last element in the project financing package which ensures that the project’s accelerated timeline remains on-track. I would like to extend our appreciation to our major shareholders, Inflection and Aterra, for their unwavering support during 2015 and 2016 in helping the team realize the development of this unique and robust asset. Finalizing this agreement is a significant milestone for the company and major catalyst in providing the financial support to advance Vertikalny towards commissioning in the fourth quarter of this year,” said Silver Bear’s CEO, Graham Hill.
Source: (August 8, 2016) Energy Business Review
To stop by Silver Bear’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
