Funds to be used for ongoing working capital, debt repayment and preparation of Redstone Mill for processing of Gowest Gold ore
Gowest Gold Ltd. is pleased to announce that it has entered into a loan agreement with Lush Land Investment Canada Inc. , pursuant to which Gowest may borrow up to an aggregate principal amount of $10,000,000. The proceeds of this loan are intended to be used by Gowest for ongoing general working capital requirements, the payment of outstanding accounts payable due to
Northern Sun Mining Corp. of approximately $4,550,000, and proposed advances to be made to Northern Sun as a prepayment for future milling services, such advances to be used by Northern Sun for certain expenses to be incurred in connection with the construction of the taili...