Petaquilla Minerals Ltd. (PTQMF) Receives and Accepts $140 Million Loan Facility
Petaquilla Minerals has received and accepted from Red Kite Mine Finance Trust I (the lender) an indicative term sheet for a loan facility, in which the lender has offered to provide Petaquilla with a loan facility for an aggregate $140 million to develop, construct, and meet working capital requirements for its projects in Panama and Iberia. Closing of the loan facility is expected to take place on or near Jan. 15 and is subject to customary due diligence, regulatory approvals, and final legal documentation that reflects the terms of the term sheet. Upon closing, an initial tranche of $90 million…