Business News • MarketWire • Ram Power Announces Corporate Credit Facility Amendment Providing for Payment-in-Kind of Interest and Fees |
Ram Power Announces Corporate Credit Facility Amendment Providing for Payment-in-Kind of Interest and Fees |
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Ram Power Announces Corporate Credit Facility Amendment Providing for Payment-in-Kind of Interest and Fees
RENO, NV--(Marketwire - Dec 27, 2012) - Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, is pleased to announce that it has amended (the "Amendment") its corporate credit facility ("Credit Facility") with Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. (collectively, the "Lenders") to provide for the payment-in-kind of interest and fees thereunder for six months through the issuance of the Company's common stock ("Common Stock"). This six-month period begins in December 2012 and runs through May 2013. The total amount of interest and fees payable under the Credit Facility during this six-month period is US$4 million.
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