EBRD completes loan facility to Tirex Resources
Client
European Bank for Reconstruction and Development
On October 9, 2008, European Bank for Reconstruction and Development (“EBRD”) signed a €6 million convertible loan facility agreement with Tirex Resources Ltd. (TSXV:TXX) (FSE:3TI).
The proceeds advanced under the agreement are intended to fund the mining exploration programme of Tirex Resources Ltd’s operating subsidiary in the Mirdita district of Albania. The loan is convertible into common shares of Tirex, at the option of EBRD and subject to the terms and conditions outlined in the facility agreement. The facility represents EBRD’s first ever investment in the Albanian natural resources sector.
EBRD was advised on this transaction by a team from Fasken Martineau led by Thomas Wexler with support from Daniel Joll, Daye Kaba and Krisztian Toth.
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