Brief: Kerr Mines Announces $27.6 Mln Project Financing

Sabre Gold Mines

18/07/2018 11:35

July 18 (Reuters) - Kerr Mines Inc  KER.TO :
    * KERR MINES ANNOUNCES US$27.6 MILLION PROJECT FINANCING AND
MAKES
POSITIVE PRODUCTION DECISION
    * KERR MINES INC -  SIGNED LOI WITH PANDION MINE FINANCE FOR
US$27.6 MILLION TO FUND DEVELOPMENT AND PRODUCTION OF GOLD AT
COPPERSTONE MINE BY Q4 2019.
    * KERR MINES INC - PROCEEDS OF AGREEMENT WILL BE PRIMARILY
USED TO
FUND COPPERSTONE MINE INTO PRODUCTION BY Q4 2019
    * KERR MINES - PANDION WOULD HAVE OPTION TO ELECT AT ANY
TIME TO
RECEIVE SHARES OF CO AT $0.40/SHARE, IN LIEU OF DELIVERY OF UP
TO 10,000 OUNCES OF GOLD
    * KERR MINES INC - KERR WILL RETAIN RIGHT TO BUY OUT AND
TERMINATE
AGREEMENT AT ANY TIME

Source text for Eikon:  ID:nGNX2YWR9B 
Further company coverage:  KER.TO 

 ((Reuters.Briefs@thomsonreuters.com;))