GC-Global Capital Corp. Announces That Its Client Company, MBMI Resources Inc. Has Executed a US$7,000,000 Pre-Advance Financing
December 01 2010 - 8:30AM
Marketwired
GC-Global Capital Corp. (TSX VENTURE: GDE.A) ("Global Capital") is
pleased to announce that its client company, MBMI Resources Inc.,
(TSX VENTURE: MBR) ("MBMI") has concluded a Pre-Advance Payment
agreement with a Japanese lender of up to US$7 million to be
utilized in advancing the Palawan nickel projects to full-scale
development. The Funding will be repaid through proceeds of future
nickel material deliveries to Japanese nickel consumers who have
arranged the financing at a negotiated rate of the net sales value
of nickel material shipments with interest charged at Libor plus 2%
annual rate.
The proceeds of this financing shall be used for the development
of MBMI's Palawan, Philippine nickel mineral properties.
About MBMI Resources Inc.
MBMI Resources Inc. (TSX VENTURE: MBR) is a Canadian-based
mining company focused on the exploration and development of nickel
mineral properties in the Philippines. MBMI and its Philippine
partners have an interest in nine nickel laterite projects in the
Philippines, covering an area greater than 22,000 hectares. MBMI's
objective is to become a major supplier of high-grade nickel
products to primary industrial consumers in Asia. For further
information, please contact MBMI Resources Inc. Investor Relations
Toll Free: 1-877-399-1991 or 604-683-1991 or visit MBMI's website
at www.mbmiresources.com.
About Global Capital
Global Capital is a merchant bank, which provides bridge loan
services (asset back/collateralized financing), to companies across
many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and
biotechnology. For further information, please contact Jason G.
Ewart at (416) 488-7760 or visit Global's website at
www.gcglobalcapital.ca.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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