Thelon Arranges $25 Million Royalty Stream Financing
28 Julho 2011 - 8:00AM
Marketwired
Thelon Capital Ltd. (TSX VENTURE: THC)(FRANKFURT: TFHC) ("Thelon")
is pleased to announce that it has arranged a $25 million Royalty
Stream Debt Facility (the "Financing") with Waterton Global Value
L.P. ("Waterton"), a mining-focused investment group based in
Toronto. "We are very excited to have the opportunity to work with
Waterton on this project and to have them as financial partners,"
stated Jason Walsh, President of Thelon. The proceeds of the
Financing will be used to complete the purchase of a private coal
mining company (the "Target"), as previously announced by Thelon on
February 24, 2011.
Thelon would also like to announce it has amended the terms of
the purchase agreements with Clear Fork Mining as well as with the
Target. Thelon has received all the necessary extensions to
complete the acquisitions.
Target Acquisition Highlights:
-- The group is based in Tennessee and has mining sites in Tennessee and
Kentucky
-- Highly respected group in coal mining and reclamation
-- Produces and sells currently to a local utility and broader industry in
general
-- Producing approximately 50,000 tons/m from three permitted strip and
auger mines with four additional mines planned
-- Resources include over 25.6 million tons of recoverable coal, including
4.5 million tons of Blue Gem Seam specialty coal leases which include
12.32 million ton 43-101 compliant Resource (the balance of 9.68 million
tons is non NI 43-101 compliant)
-- Eight years permitted life of mine
-- Over 100 local employees
-- Includes an estimated US$24 million of operating mining equipment, wash
plant and load out facility
-- No debt and cash flow positive for last three fiscal years
-- Current management and staff will stay in place, providing continuity to
operations and bringing over 30 years experience in Appalachian coal
production and sales
The Financing is subject only to the completion of a $20 million
equity raise, and certain other standard debt financing
conditions.
THELON CAPITAL LTD.
On behalf of the Board of Directors
Jason Walsh, President
Forward-Looking Statements
This news release contains forward-looking statements. These
forward-looking statements entail various risks and uncertainties
that could cause actual results to differ materially from those
reflected in these forward-looking statements. Such statements are
based on current expectations, are subject to a number of
uncertainties and risks. These uncertainties and risks include, but
are not limited to, the strength of the economy; operational,
funding, and liquidity risks; the degree to which mineral resource
estimates are reflective of actual mineral resources. Risks and
uncertainties about Thelon's business are more fully discussed in
the company's disclosure materials filed with the securities
regulatory authorities in Canada and available at www.sedar.com and
readers are urged to read these materials. Thelon assumes no
obligation to update any forward-looking statement or to update the
reasons why actual results could differ from such statements unless
required by law.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Thelon Capital Ltd. Jason Walsh President (604)
682-1643 (604) 682-1666 (FAX) www.theloncapital.com
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