By Devika Patel
Knoxville, Tenn., Aug. 26 - Dioro Exploration NL said it has arranged a A$14 million financing facility with BNP Paribas.
The financing consists of a A$10 million standby debt facility and a A$4 million performance guarantee facility.
As a further condition for establishing the loan, BNP Paribas also received options to purchase up to 3 million shares for A$0.64 until June 30, 2011.
Proceeds will provide sufficient cash reserves to meet ongoing development cost requirements. The funds will also finance a large gold stockpile adjacent to the company's Jubilee Mill.
Dioro, based in Nedlands, Western Australia, is an exploration company with gold, nickel, uranium and copper projects.
| Issuer: | Dioro Exploration NL
|
| Issue: | Financing facility
|
| Amount: | A$14 million
|
| Warrants: | For 3 million shares
|
| Warrant expiration: | June 30, 2011
|
| Warrant strike price: | A$0.64
|
| Investor: | BNP Paribas
|
| Pricing date: | Aug. 25
|
| Stock symbol: | Australia: DIO
|
| Stock price: | A$0.11 at close Aug. 25
|
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