| Home : May 2015 : May 01, 2015 News : Banro Closes Balance of US$90 Million Financing |
Banro Closes Balance of US$90 Million Financing |
May 01, 2015
TORONTO, ONTARIO--(Marketwired - April 30, 2015) - Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) announces that it has closed the US$70 million balance of its previously announced financing (the "Financing"), such balance includes a US$20 million gold forward sale transaction relating to the Twangiza mine and a US$50 million gold streaming transaction relating to the Namoya mine. The purchasers (each, a "Purchaser") under these transactions are funded by investment funds managed by Gramercy Funds Management LLC and affiliated accounts. The Company closed on February 27, 2015 the first tranche of the Financing, involving a US$20 million gold forward sale transaction relating to the Twangiza mine (reference is made to the Company's February 27, 2015 press release), such that the total gross proceeds from the Financing are US$90 million.
http://www.marketwired.com/mw/release.do?id=2015140&sourceType=3
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