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Article: Mainland Resources Announces $40 Million Credit Facility With Guggenheim.
- Article from:
- Energy Weekly News
- Article date:
- November 6, 2009
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Mainland Resources, Inc., (OTC Bulletin Board: MNLU) (Frankfurt: 5MN) announced that it has entered into a two-year, $40 million senior secured advancing line of credit agreement with Guggenheim Corporate Funding, LLC, an affiliate of Guggenheim Partners, LLC. SMH Capital Inc. acted as exclusive financial advisor to Mainland Resources in relation to the Guggenheim financing.
Backed by this new agreement, Mainland will complete the purchase of 8,225 acres of oil and gas leases in Mississippi in conjunction with its previously announced agreement with American Exploration Corp. to jointly develop their contiguous acreage which collectively totals 13,225 acres (the ...