Kerr Mines announces debt restructuring and a C$2 million long term debt facility

On August 25, 2016, Braydon Capital Corporation entered into a debt conversion agreement with Ker Mines pursuant to which Braydon Capital agreed to acquire 18,500,000 common shares in settlement of C$1.5 million outstanding amount of a secured promissory note issued previously by Kerr Mines. Concurrently with this debt conversion, Braydon Capital also agreed to certain security sharing arrangements with another shareholder and creditor of Kerr Mines. Fasken Martineau advised Braydon Capital with a team led by Brian Graves and including David Ferris and Aine O’Connor.