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NEWS ROUNDUP — Cliff negotiates bridge loan

Posted By: Northern Miner Staff December 19, 1994

Strategic Industry Investments will lend $6 million to Cliff Resources (TSE) so that it can meet its obligations to Mineral Development.

The latter is owned equally by Cliff and Strategic. Also, Cliff has ceased discussions regarding increasing its 30% interest in the Cassiar chrysotile joint venture in British Columbia. It has acquired an additional 20% interest from Strategic.

Discussions are under way, Cliff says, concerning a possible restructuring of the Cassiar and Teranov (Newfoundland) chrysotile operations.

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