The transaction is a strong sign of the colored gem miner’s ongoing prospects By: Diamond World News Service
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Mille Schiøtt Kongstad, Greenlandic geologist. Holding rough from the Aappaluttoq mine
Greenland Ruby DK ApS, a ruby and sapphire corundum miner in Greenland; and Nebari Natural Resources Credit Fund I, LP, a financier in the mining sector; announce today a landmark transaction in the colored gemstone industry, with execution of an agreement for a $18 million working capital facility. The first funding round is expected before the end of May. The facility, which came to be known as Project Aurora, is spread over three tranches and is believed to be one of the largest financings in colored gemstone history.
Vendetta Mining Corp.: Vendetta Announces Extending of Loan to Dec 2022
Vancouver, British Columbia (Newsfile Corp. - April 27, 2021) - Vendetta Mining Corp. (TSXV: VTT) ( Vendetta or the Company ) is pleased to announce that it has extended the maturity of the Company s loan with Nebari Natural Resources Credit Fund I LP ( Nebari ) to December 31, 2022.
The adjusted material terms of the financing as set forth in the term sheet, include the following:
Repayment of the current principal amount of US$1,957,794 extended to December 31, 2022.
Principal repayment holiday until December 31, 2021, when quarterly principal repayments of US$200,000 commence.
Quarterly interest payments calculated at 9.5% plus 3-month LIBOR, with a floor of 2.5%.