TVIRD initiates draw down on US$15 million bridge financing
TVI Pacific Inc.(TVIP) and its Philippine affiliate, TVI Resource Development (Phils.) Ltd. (TVIRD), has advised that the previously announced US$15 million bridge financing facility with LIM Asia Arbitrage Fund Inc. and LIM Asia Special Situations Master Fund Limited (Lenders) has closed and the first drawdown by TVIRD under the facility has been initiated.
On March 13, 2008, TVIP and TVIRD signed a US$15 million bridge financing agreement with the Lenders for the purpose of obtaining working capital funding for TVIRD, including funds to continue construction of the Sulphide project at Canatuan.
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