A conditional waiver from the formal valuation and minority approval requirements of an Ontario Securities Commission policy as it relates to an unsecured 7% convertible debenture issue to minority shareholder Minnova (TSE) has been obtained, RFC Resource Finance (TSE) reports.
Proceeds of the issue will go toward financing a detailed study of the feasibility and economic viability of a 1,500-per-day zinc-lead mining operation at the Pend Oreille deposit in the state of Washington. Minnova owns more than 4.6 million shares of RFC, or a 45.8% interest.
Be the first to comment on "Funding for Pend Oreille study"