trending Market Intelligence /marketintelligence/en/news-insights/trending/_dfiyov6mxwei_apako2mw2 content esgSubNav
In This List

Rizal secures US$8.1M loan to restructure debt

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Rizal secures US$8.1M loan to restructure debt

Rizal Resources Corp. said June 1 that it entered into a term sheet with a syndicate of existing lenders to secure a debt facility of around US$8.1 million.

The company will use the funds to restructure existing debt and for additional working capital for its T'Boli gold project in the Philippines.

Under the terms, Rizal will issue share purchase warrants, enabling the holder to convert into an additional share at 5 cents for up to three years.

The company also struck shares-for-debt settlement agreements with its creditors, comprising 2,215,632 units at the same price for US$110,781.