White Tiger Gold and Century Mining Announce New Credit Facility (ccnm)
TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - White Tiger Gold Ltd. ("White Tiger Gold") (TSX:WTG) and Century Mining Corporation ("Century Mining") (TSX VENTURE:CMM) are pleased to announce the grant by White Tiger Gold of a new Credit Facility to Century Mining for up to a total of U$10million, which will help fund Century's expansion plans both pre- and post- the intended business combination until the end of the year. The existing bridge loans from White Tiger Gold totaling U$4,000,000 will be amended and incorporated into the new facility. The terms of this new facility will be substantially the same as the existing bridge loan agreements. Century has requested the consent of Deutsche Bank AG, London Branch ("DB") with respect to this new credit facility, and such consent from DB is expected early October.
"We are very pleased that this new Credit Facility is being entered into by Century Mining and White Tiger Gold, to be effective immediately. This will provide additional support to Century in the implementation of its operational plans for the rest of this year," said Daniel Major, CEO of Century Mining Corporation, and Dr. Geoffrey Cowley, CEO of White Tiger Gold.
