Providence Resources has entered into a financing facility with Melody Business Finance LLC, a US based financial institution for the provision of a $24 million debt facility, the proceeds of which will be used for general working capital purposes.

This financing facility, which runs until June 1st 2015, is secured by way of a floating charge and carries a 10% headline interest rate. Providence's financial advisor on the transaction was New York based EAS Advisors, LLC, acting through Merriman Capital, Inc., a member of FINRA / SIPC.

Tags: Providence Resources Plc