19/06/2009 - 15:19

Terrain secures $5m funding

19/06/2009 - 15:19

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Terrain Minerals has secured $5 million in equity funding from Fortrend Securities under an innovative Standby Subscription Facility.

Terrain Minerals has secured $5 million in equity funding from Fortrend Securities under an innovative Standby Subscription Facility.

The standby funding will be used over 3 years to develop proposed gold and nickel projects.

 

 

The announcement is pasted below:

Fortrend Securities Pty Ltd is pleased to announce that Terrain Minerals Limited has taken advantage of its Standby Subscription Facility, which offers an innovative approach in financing for small-cap companies.

The funding will be provided by an equity draw-down facility provided by Fortrend, which will allow Terrain at their discretion, to place shares with Fortrend over the next 3 years.

Terrain Managing Director, Keith Wells said that "TMX is delighted that after a detailed review of the company and its prospects, Fortrend has agreed to make available the $5m facility".

Fortrend CEO Joe Forster said, "Terrain has some very exciting gold and nickel prospects. We are delighted to be able to help Terrain fund the development of these projects".

 

 

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