Rambler Metals & Mining PLC - Canada-focused copper and gold producer, explorer and developer - Announces that NewGen Resource Lending Inc and West Face Capital Inc have each provided a USD500,000 bridge loan to the company, for a total of USD1.0 million.
"Work on closing our financing has undoubtedly taken longer than anticipated. This has been a challenging period and despite this we have continued to operate at a time when we expected to have received funds already. This would not have been possible without the patience and support of our suppliers for which we are very appreciative," said Chief Executive Toby Bradbury.
Rambler said at the end of December 2020 that it had entered into a final agreement for a USD5 million loan from West Face Capital. In early October, the firm said that proceeds from the financing will be used to continue funding mine development.
Current stock price: 22.72 pence; up 21% on Wednesday
Year-to-date change: down 36%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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