Business News • MarketWire • Royal Standard Minerals, Inc. (RYSMF) Has Secured a Credit Facility and Completes a Private Placement Financing |
Royal Standard Minerals, Inc. (RYSMF) Has Secured a Credit Facility and Completes a Private Placement Financing |
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Royal Standard Minerals, Inc. (RYSMF) Has Secured a Credit Facility and Completes a Private Placement Financing
MANHATTAN, NV--(Marketwire - September 7, 2010) - ROYAL STANDARD MINERALS, INC. (OTCBB: RYSMF) announces today that it has secured a financing, with an international private investment group and current management of the Company to include a "Credit Facility" that will consist of senior secured notes with an 8% per annum interest rate and warrants for $10-$20 million, representing 20-40 units at $500,000 per unit. Also, the funding includes 500,000 warrants per unit priced @ $0.10 per warrant. The term of the notes and warrants will be three years and include interest only payments during the first year of the notes commencing six months after the closing date. During years 2 and 3 the repayment of the notes will include equal monthly principal and interest payments until the notes are repaid. The notes will be secured by RYSMF's properties and physical assets. The documentation and rele
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