Ressources Appalaches Receives the Draft Loan Agreement of US $10 Million to Advance its Dufferin Mine Project to Production
04.03.2013 | Marketwire
RIMOUSKI, March 4, 2013 - Ressources Appalaches (TSX VENTURE:APP) is pleased to announce that it has received the draft loan agreement for the funding of the US $10 million two tranches gold prepayment agreement with a New York based financing firm. The loan will be secured by the Company's assets (press release of November 28, 2012).Proceeds from the loan would be used to resume gold production at the Dufferin Mine project in Nova Scotia, starting with the three phase work plan detailed in the Company's 43-101 Technical Report dated May 30, 2012 (press release of June 06, 2012).
Ressources Appalaches' internal legal review of the draft loan offer and definitive documentation is in progress and is expected to conclude within the next few weeks.
The term of agreement shall be subject to the prior approval of the TSX Venture Exchange.
About Ressources Appalaches
Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formations in Québec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.
Photos of the Dufferin Mine and its facilities are available on the Company's website at: www.ressourcesappalaches.com.
The contents of this press release were prepared and checked by Alain Hupé, Eng. a Qualified Person as defined in NI 43-101.
This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO PRESS SERVICES IN THE UNITED STATES AND NOT FOR CIRCULATION IN THE UNITED STATES
Contact
Ressources Appalaches Inc.
Alain Hupe, Eng., President
418-724-0901
info@ressourcesappalaches.com
Jean-Claude Morel, Executive Vice-President
418-724-0901
info@ressourcesappalaches.com