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Article: Apollo Gold Closes US$70 Million Project Financing Agreement for the Black Fox Project.
- Article from:
- Business Wire
- Article date:
- February 23, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DENVER -- Apollo Gold Corporation ("Apollo" or the "Company") (TSX: APG) (AMEX: AGT) is pleased to announce that it has closed a US$70 million project financing agreement (the "Project Facility") relating to its 100% owned Black Fox project ("Black Fox Project") located near Timmins, Ontario, Canada. The Project Facility refinances the US$15 million bridge facility ("Bridge Facility") entered into on December 10, 2008.
Apollo expects to use the proceeds from the Project Facility (i) to repay the Bridge Facility, (ii) to complete the development of the Black Fox Project and (iii) to provide for up to US$7 million in agreed corporate expenditures.
The ...