New World Resources Enters Binding Facility Agreement with Kinterra Capital for $6.5 Million Loan

MT Newswires Live

07/29

New World Resources (ASX:NWC) entered into a binding loan facility agreement with Kinterra Capital for a $6.5 million unsecured loan, with full drawdown expected to occur this week, according to a Tuesday Australian bourse filing.

The facility carries an interest rate of 10% per annum, per the filing.

The proceeds of the facility will be used for the Antler copper project, including meeting Arizona State bonding requirements and securing key project land parcels, as well as to provide general working capital and for the payment of transaction costs in relation to the takeover of New World by Kinterra Capital.

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