Business
Generation Mining appoints Endeavour to coordinate Marathon Project Financing
TORONTO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX: GENM; OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce that it ha
About this update from Generation Mining Ltd.
[{"type":"text","content":" TORONTO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX: GENM; OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce that it has appointed Endeavour Financial as its Financial Advisor to provide financial advisory services with respect to the development of the Marathon palladium-copper project in Northwestern Ontario (the “Marathon Project”). Kerry Knoll, Executive Chairman, commented, \"We look forward to working with the Endeavour Financial team to evaluate the many financing proposals we have received and to introduce us to many new potential investors. Members of our board of directors have worked extensively with Endeavour in the past, and I myself have business relationships going back almost three decades. We expect that ultimately production financing will be some combination of debt, royalties or streaming, and equity, with a focus on keeping the equity portion as low as possible. Endeavour is not expected to be involved in the equity portion.” David Rhodes, Managing Director of Endeavour, commented: \"Endeavour is delighted to be able to work with the Gen Mining team to evaluate and execute financing for the development of this world class asset.\" Endeavour Financial, with offices in London, UK and George Town, Cayman Islands, and Vancouver, British Columbia, is one of the top mining financial advisory firms, with a record of success in the mining industry, specializing in arranging multi-sourced funding solutions for development-stage companies. Founded in 1988, Endeavour has a well-established reputation of achieving success with over US$500 million in royalty and stream finance, US$4 billion in debt finance and US$28 billion in mergers and acquisitions. The Endeavour Financial team has diverse experience in both natural resources and finance, including investment bankers, geologists, mining engineers, cash flow modelers and financiers. About the Company Gen Mining’s focus is the development of the Marathon Project, a large undeveloped platinum group metal mineral deposit in Northwestern Ontario. The Company released the results of the Feasibility Study on March 3, 2021 and published the NI43-101 Technical Report dated March 25, 2021. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining currently owns an 82.6% ...