Just in . . . Calvista Loan
Compare these terms to GWY's BMO loan and then try to convince me that there was not a guarantor for the GWY line of credit. While i wish the GWY pot was boiling, I'm content that it is simmering. We just have to wait for AUX to make a final decision on whether to buy GWY now, later or never. That is assuming they already haven't decided to. Oh yeah . . . who is the BMO guarantor . . .TORONTO, ONTARIO, Oct 03 (MARKET WIRE) --Calvista Gold Corporation (TSX:CVZ)(OTCQX:CAGOF) ("Calvista" or the"Company") is pleased to announce that it has entered into a binding termsheet for a US $3 million loan commitment (the "Commitment") from MarretAsset Management Inc. on behalf of various funds under its management(the "Lenders"). The Commitment contemplates a loan of up to US $3 million, secured by afirst lien, bearing interest at an initial rate of 10% upon closing andhaving an initial term of one year from the first draw date. Under the terms of the Commitment, Calvista may, at its option, draw theloan in multiples of US $1.5 million or US $3 million in total, on orbefore January 31, 2013. The Company may also, at its option, extend thematurity date by one year, subject to an initial 2% increase in theinterest rate after the first year. In consideration for the financing commitment, Calvista has issued to theLenders 1,250,000 common share purchase warrants with a three year termand a strike price of CDN$0.50 per share. Closing of the financing is subject to customary closing conditions,including the execution of definitive agreements.