Santa Fe Gold Raises $13.5 Million for Construction of Summit Silver-Gold Mine
Business Wire Fri, Dec 21
ALBUQUERQUE, N.M.--BUSINESS WIRE--Santa Fe Gold Corp SFEG - News, a U.S.-based mining and exploration enterprise focused on gold, silver, copper and industrial minerals, announced that it has entered into definitive agreements regarding the private placement of senior secured convertible debentures and common stock purchase warrants to a single investor for an aggregate purchase price of $13,500,000. The net proceeds will be used primarily for development of the Summit Silver-Gold Mine, located in New Mexico. The debentures and warrants will be issued in accordance with a pre-determined funding schedule corresponding to the project’s anticipated construction requirements during 2008.
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