On February 22, 2011, Armistice Resources Corp. (TSX: AZ), announced that it had closed a $3 million bridge loan and executed a term sheet for a $15 million Senior Secured Gold Stream Debt Facility with Waterton Global Value, L.P.

Armistice will be able to access the $15 million of funds in three tranches.

On March 28, 2011 (the initial closing date of the facility agreement), the first tranche of $7 million was provided by Waterton. Armistice applied a portion of the first tranche to repay in full amounts outstanding under the $3 million bridge loan.

The second tranche of $4 million will be accessible five months after the initial closing date, subject to Armistice's satisfaction of certain development and processing targets. The third tranche of $4 million will be available nine months following the initial closing date, again subject to Armistice's satisfaction of certain development and processing targets.

Armistice was advised in these transactions by Fasken Martineau with a team that included Michael Bourassa and Alex Nikolic (corporate and securities); David Johnson, Marc Lefler and Louise Kennedy (banking); and Andrea Centa (real estate).