🕐13.04.12 - 23:27 Uhr
AVANTI MINING TO EXTEND BRIDGE LOAN AGREEMENT WITH RESOURCE CAPITAL FUND IV L.P.
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News Release - Friday, April 13, 2012
Avanti Mining To Extend Bridge Loan Agreement With Resource
Capital Fund IV L.P.
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Vancouver, British Columbia: Avanti Mining Inc.
(TSX-V: AVT) (OTC:
AVNMF.PK) ("Avanti" or the "Company") announces that it has entered
into a term sheet with Resource Capital Fund IV L.P.
("RCF") to extend
the term of the $5 million bridge loan dated December 6, 2011 made by
RCF to the Company.
Pursuant to the term sheet, RCF has agreed to extend the maturity date
of the bridge loan from April 15, 2012 to June 15, 2012 and the Company
has agreed to pay RCF an extension fee of CDN$125,000 in cash or, at
RCFs option, in common shares of the Company valued at the current
market price.
All other terms of the bridge loan remain unamended.
The Company is focused on the development of the past producing
Kitsault molybdenum mine located north of Prince Rupert in British
Columbia.
For further information, please visit www.avantimining.com, or contact:
A.J.
Ali, Chief Financial Officer, 303-565-5491, extension 4472, or
Craig J.
Nelsen, Chief Executive Officer, 303-565-5491, extension 4471
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.
Forward-Looking Statements: This news release contains certain
forward-looking information concerning the business of Avanti Mining
Inc.
(the "Corporation").
All statements, other than statements of
historical fact, included herein including, without limitation,
statements with respect to the development of the Corporations
Kitsault molybdenum project, are forward-looking statements.
These
forward-looking statements are based on the opinions of management at
the date the statements are made and are based on assumptions and
subject to a variety of risks and uncertainties and other factors that
could cause actual events to differ materially from those projected in
forward-looking statements.
Important factors that could cause actual
results to differ materially from the Corporations expectations
include fluctuations in commodity prices and currency exchange rates;
uncertainties relating to interpretation of drill results and the
geology, continuity and grade of mineral deposits; uncertainty of
estimates of capital and operating costs, recovery rates, production
estimates and estimated economic return; the need for cooperation of
government agencies and native groups in the exploration and
development of properties and the issuance of required permits; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing; the
possibility of delay in exploration or development programs or in
construction projects and uncertainty of meeting anticipated program
milestones; uncertainty as to timely availability of permits and other
governmental approvals; results of negotiations with a potential
strategic partner and other risks and uncertainties disclosed in the
Corporations Annual Information Form for the year ended December 31,
2010, which is available at www.sedar.com.
The Corporation is under no
obligation to update forward-looking statements if circumstances or
managements opinions should change, except as required by applicable
securities laws.
The reader is cautioned not to place undue reliance on
forward-looking statements.
You can also view this News Release on our website at:
http://www.avantimining.com/s/NewsReleases.asp?ReportID=518655
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Copyright (c) 2012 AVANTI MINING CORP.
(AVMI) All rights reserved.
For more information visit our website at http://www.avantimining.com/
or send mailto:
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