Algold Resources Ltd. announced that it has received funding from Downtown Special Situations Holdings, LLC, Delaware Street Capital Master Fund, L.P., Saiso Partners LLC, Capital Drilling Ltd. and BPM Capital Limited
Algold Resources Ltd. (TSXV:ALG) announced that it has entered into a secured credit agreement with a consortium of lenders to establish a short-term loan facility for gross proceeds of $5 million on July 13, 2018. The transaction will include participation from Downtown Special Situations Holdings, LLC, BPM Capital Trust I, Saiso Partners LLC, Capital Drilling Limited (LSE:CAPD), Delaware Street Capital Master Fund, L.P., and DSC Advisors, L.P. The loan has a term of one year and bears interest at an annual rate of 15%. The company has also issued to the lenders a total of 12,756,470 common shares, subject to a four-month hold period. The transaction is subject to the approval of the TSX Venture Exchange.