Britannia Mining, Inc. (BMIN or the Company) (OTC Pink: BMIN), the successor of a merger between UK based mining development company Britannia Mining Plc and U.S. based Micron Enviro Systems (Former Symbol: MSVS), announced that the company anticipates a capital infusion in excess of USD $25 Million through a senior debt facility proposed by REM Capital — an European private equity firm founded by Gavin Scott; fund manager recently appointed to Britannia’s board as a Non-Executive Director (www.britanniamining.com/britannia-mining-strengthens-board-appointment-non-executive-director/).
“Securing substantial, non-toxic financing, affords us not only the ability to pursue the completion of our current projects, but to aggressively leverage revenue generating opportunities that are immediate and can positively impact our 2014 balance sheet,” stated Nicola Newmarch, COO of Britannia Mining.
Management is confident that the formal proposal from REM Capital will arrive closer to USD $40 Million, given the greater immediate income value of acquisition targets and current resource projects. A formal offer from REM Capital is anticipated prior to the upcoming holidays. This will give Britannia the ability to begin preparing the roll-out of their 2014 plan.
Ms. Newmarch concluded, “We believe that REM Capital truly recognizes the value in Britannia’s mineral projects as well as this management’s capability. With a first round capital infusion of this size, we will have the means to expedite various programs which will establish viable profit centers for the Company.”