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Article: Avanti Mining Issues Shares in Lieu of Cash for Interest Payable Under Terms of Bridge Loan.
- Article from:
- Marketwire Canada
- Article date:
- October 7, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. 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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VANCOUVER, BRITISH COLUMBIA, Oct 7, 2009 (Marketwire via COMTEX) -- Avanti Mining Inc. (TSX VENTURE:AVT) ("Avanti") announces that in accordance with the terms of the Convertible Bridge Loan Agreement (the "Loan Agreement") dated October 16, 2008, between Avanti and Resource Capital Fund IV L.P. ("RCF"), Avanti has made an interest payment in the amount of US$339,748.15 on the bridge loan of US$20,116,667 for the period from July 15th to September 30, 2009. This interest will continue to accrue at 8% per annum until the previously announced (October 5, 2009) conversion is approved by the non-RCF shareholders at a meeting called for November 5, 2009, thereafter the ...