|J Frank has been burning the midnight oil and has discovered a way to unlock value ... for J Frank. Everybody's mercenary Sprott has found some mightly fertile fields in J. Franks' deep neither regions.|
A match made in venture heaven when one wastes time thinking about it. Pfffft.
|"Barkerville Gold Mines Ltd. Receives a Term Sheet for aA $15 Million Gold Loan Facility and Makes Application to the TSX-V for Reinstatement|
September 24, 2013, Vancouver, British Columbia -- Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") is pleased to announce that the Company has entered into a term sheet (the "Term Sheet") with 2176423 Ontario Limited (as "Lender"); which the Company is informed is wholly-owned by Eric Sprott; respecting a proposed $15 million gold loan facility (the "Facility") to be provided to the Company by the Lender. The Facility is expected to be advanced to the Company on or about October 4, 2013, and in conjunction with the Company's planned reinstatement for trading on the TSX Venture Exchange (the "TSX-V"); assuming the successful completion of the Company's reinstatement application with the TSX-V; in a single advance of $15 million in accordance with the terms and conditions of a proposed Credit Agreement which is presently being prepared. The Company intends to use the proceeds of the Facility to pay for existing trade payables, to repay its recent bridge loan of $1.5 million and for the payment of operating expenses on a going forward basis."