Atlantic Gold Secures $115 Million Project Debt Financing for the Development of the MRC Project
All figures presented in Canadian Dollars, unless specified otherwise
VANCOUVER, BRITISH COLUMBIA--(Feb. 22, 2016) - Atlantic Gold Corporation (TSX VENTURE:AGB) ("Atlantic" or the "Company") is pleased to announce that following a competitive selection process, it has received and executed a credit approved commitment letter for a $115 million Project Loan Facility ("PLF") to be arranged and fully underwritten by Macquarie Bank Limited ("Macquarie Bank") and Caterpillar Financial Services Corporation ("Cat Financial"), to fund the majority of the construction costs of the Company's Moose River Consolidated Project ("MRC Project") in Nova Scotia.
Macquarie Bank and Cat Financial are recognized global leaders in the provision of mining project finance. Macquarie Bank is part of Macquarie Group, a global financial services provider with offices in 28 countries and expertise covering banking, financial, advisory, investment and funds management services. As the captive finance company for Caterpillar, Cat Financial has provided financial service excellence and helped Cat® equipment customers make progress possible for more than 30 years. With a global presence in every mining market, Cat Financial focuses on customized financial solutions built to fit customers' unique needs in the ever-changing mining industry.
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Published: 22 February 2016
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Written by Editor
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Read more: Atlantic Gold Corporation ( AGB )