BRIEF-Silver Bear Resources enters into non-binding term sheet for Mangazeisky silver project debt funding package

Thu Apr 28, 2016 12:41pm EDT
 
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April 28 (Reuters) - Silver Bear Resources Inc :

* Silver bear announces entering into non-binding term sheet for mangazeisky silver project debt funding package

* Co's russian unit will be ultimate borrower under debt funding package which will consist of a us$42.85 million secured loan

* A portion of secured loan facility will be used to repay principal and accrued interest on certain outstanding promissory notes

* Debt funding package will also have working capital facility of us$3.5 million and a contingency facility of us$2 million Source text for Eikon: Further company coverage: