Avanti Mining issues shares
July 25, 2010 @ 6:03 pm In Moly Company News
[1]Avanti Mining (CVE:AVT) reports issuing shares for interest payable under terms of a bridge loan.
According to the terms and conditions set out in the Loan Agreement, RCF has the option to receive interest payments in the form of common shares of Avanti. RCF has made a request to receive the interest payable on the bridge loan in the amount of US$100,000.00 in common shares, and Avanti will deliver to RCF 895,977 common shares in satisfaction of the accrued interest payable for the period from April 1, 2010 to June 30, 2010. The shares will be subject to a four-month hold period.
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[2] For complete news release, click here.: http://www.newswire.ca/en/releases/archive/July2010/23/c6377.html