Dias Bras Exploration seeks $150 million bridge loan from Citibank

By Angela McDaniels

Tacoma, Wash., May 17 - Dias Bras Exploration Inc. expects to receive $150 million of debt financing from Citibank, NA, according to a company news release.

The company must obtain a firm and irrevocable commitment for the bridge loan before it can complete the definitive agreements necessary to close its proposed acquisition of 92% of the voting shares of Sociedad Minera Corona SA.

Dias Bras expects to execute definitive documentation with Citibank by May 24, and the acquisition is expected to close by June 1.

Dias Bras mines for precious and base metals and is based in Toronto.

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