Rusoro Mining Reports on its Loan Repayment Status
14 Junio 2011 - 11:48AM
Marketwired
Rusoro Mining Ltd. ("Rusoro") (TSX VENTURE: RML) announces that it
has not performed the repayment of its Senior Secured Exchangeable
Loan of US$30 million Principal due on June 10, 2011 (The "Loan")
and related interest of US$750 thousand.
The syndicate of lenders includes Petropavlovsk PLC (The
"Agent"), Lansdowne U.K. Equity Fund Limited, Lansdowne U.K. Equity
Fund L.P., Lansdowne U.K. Strategic Investment Master Fund Limited,
Endeavour Financial Corporation, and BlackRock Natural Resources
Hedge Fund Limited.
The Loan is secured by share pledges over the Company's
principal assets including the Choco Mine and the San Rafael El
Placer and Increible 6 mineral properties but excludes the Isidora
Mine.
Rusoro is currently holding discussions with the Agent for the
granting of an extension to the Loan repayment period for a
sufficient amount of time to allow Rusoro to complete financing
options that it is currently evaluating to fund the retirement of
the Loan and general corporate purposes.
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
Forward-looking statements: This document contains statements
about expected or anticipated future events and financial results
that are forward-looking in nature and as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events,
and the Company's capability to execute and implement its future
plans. Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release."
Contacts: Rusoro Mining Limited Andre Agapov President & CEO
604-632-4044 or Toll Free 1 800-668-0091 604-632-4045 (FAX)
info@rusoro.com www.rusoro.com
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