BRIEF-Rye Patch signs agreement to acquire Florida Canyon gold mine

Wed May 25, 2016 2:48pm EDT
 
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May 25 (Reuters) - Rye Patch Gold Corp

* Rye patch signs agreement to acquire Florida Canyon gold mine and commitment letter for a US$27 million credit facility for mine restart

* Says total consideration of US$15 million in cash and 20 million common shares of company payable at closing

* Rye Patch Gold Corp says expects Florida Canyon to achieve commercial production from new leach pad in Q1 2017

* Says credit facility to fund proposed redevelopment of Florida Canyon Mine Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)