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Royal Standard Announces Entry Into US$8,000,000 Credit Facility |
July 01, 2011
TORONTO, ONTARIO--(Marketwire - June 30, 2011) - Royal Standard Minerals Inc. (OTCBB:RYSMF) (the "Company" or "Royal Standard") is pleased to announce that it has entered into a secured bridge loan agreement dated June 29, 2011 with Waterton Global Value, L.P. ("Waterton") pursuant to which Waterton has agreed to make an US$8,000,000 bridge loan (the "Credit Facility") available to the Company. The amounts drawn down under the Credit Facility will incur interest at 6% per annum, and the scheduled repayment date of the Credit Facility is 16 months after the initial closing date. The Credit Facility is secured by, amongst other items, the Company's real property assets in Nevada.
http://www.marketwire.com/mw/release.do?id=1533828&sourceType=3
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