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Article: BacTech Arranges Bridge Financing Provides Two Boys Update
- Article from:
- CCNMatthews Newswire
- Article date:
- October 24, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(Marketwire - Oct. 24, 2007) - BacTech Mining
Corporation ("BacTech" or the "Company")(TSX VENTURE:BM) today
announced that it has arranged a $250,000 bridge loan for working
capital from Gould Leasing Ltd. As collateral for the loan, the
Company has pledged 285,000 of the 423,729 common shares it owns in
Golden China Resources ("Golden China"). The Golden China shares are
subject to a four-month hold which will be removed on December 15,
2007. The Company anticipates liquidating enough Golden China shares
after December 15th to satisfy its obligation. The Company determined
that this was the best route for a financing, given the price of
BacTech's common shares.
The ...