Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/octagon-88-resources-announces-manning-projects-30.shtmlOctagon 88 Resources announces Manning projects $30m milestone-based financing
Octagon 88 Resources (OCTX) is pleased to provide the CEC North Star letter to shareholders confirming and outlining the terms of the C$30M
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Octagon 88 Resources (OCTX) is pleased to provide the CEC North Star letter to shareholders confirming and outlining the terms of the C$30M milestone-based project financing following a staged approach of capex requirements for the Manning Projects. CEC North Star has provided in a corporate update letter to its shareholders has details about the $30M project financing that will be filed as an 8-K in Octagon 88’s filings.
Letter to Shareholders:
“To finance these steps, we have negotiated and signed a mandate with a strong Switzerland based financing group to arrange a C$ 30M milestone-based project financing following a staged approach of capex requirements… The funding group was able to close quickly the first tranche of C$ 8,000,000 for the minimum case set out in page 13 of the Executive Summary with in the time frame agreed…
