Red Eagle Mining Corp RDEMF

Metals & Mining Gold

Red Eagle Mining Corp is a Canada-based development-stage company. It is engaged in the exploration and development of mineral properties. Geographically it operates in the countries of Canada and Colombia. It focuses on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia. The company primarily explores for Gold and owns interests in the Santa Rosa Gold Project located in Antioquia, Colombia covering an area of approximately 10,000 hectares.

GREY:RDEMF - Post by User

Red Eagle Mining Corp

<< Previous

Bullboard Posts

Next >>

Post by abezrjhon Nov 12, 2018 7:34pm

280 Views

Post# 28962635

latest news for anyone who missed

Red Eagle Mining Received Default Notice

GlobeNewswire November 9, 2018, 6:40 PM GMT-5

VANCOUVER, British Columbia, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Red Eagle Mining Corporation (TSX: R, BVL: R, OTCQX: RDEMF)advises that the secured lenders have given default notice and a demand letter under the secured credit facility and advised of their intention to appoint FTI Consulting as receiver over Red Eagle Mining’s assets. Red Eagle Mining had negotiated a restructuring, announced August 24, 2018 under which the secured lenders would write off a significant part of their debt to enable Red Eagle Mining to recommence operations, but the restructuring was contingent upon a US$38 million equity financing from Annibale SAC, personally guaranteed by its principal Fernando Palazuelo. Annibale defaulted on that commitment and as a result, the restructuring could not proceed.

Additional Information

Toni Vanderlaan
Senior Managing Director
FTI Consulting
+1 416 649 8134
red.eagle@fticonsulting.com