BRIEF-Nevada Copper Corp announces Red Kite funding commitment and equity financing terms

Fri May 27, 2016 9:28am EDT
 
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May 27 (Reuters) - Nevada Copper Corp

* Nevada Copper announces Red Kite funding commitment and equity financing terms

* Red Kite has waived existing defaults under its loan facility with company and lifted forbearance

* Terms of its previously announced public offering of subscription receipts are to be changed to a common share offering

* Red Kite will advance to company an additional $3 million draw under current loan facility

* Intends to raise aggregate of up to CDN$4 million by issuance of aggregate of up to 6.7 million common shares at purchase price of CDN$0.60per share Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)