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Rathdowney Announces $310,000 Loan
Rathdowney Announces $310,000 Loan Rathdowney Announces $310,000 Loan Canada New...
About this update from Rathdowney Resources Ltd.
[{"type":"text","content":"\n\n\n\nRathdowney Announces $310,000 Loan\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nRathdowney Announces $310,000 Loan\nCanada NewsWire\nVANCOUVER, Jan. 8, 2016\n\n\n\nVANCOUVER, Jan. 8, 2016 /CNW/ - Rathdowney Resources Ltd. (\"Rathdowney\" or the \"Company\") (TSXV: RTH) announces that it has entered into Loan Agreements  with respect to a $310,000 loan (the \"Loan\") with non-arm's length directors and officers of the Company (the \"Lenders\").\n\nThe Loan is unsecured, will bear interest at a rate of 15% per annum and is repayable after six months or earlier on the occurrence of a default. In connection with the Loan, Rathdowney will issue to the Lenders a loan bonus in the form of 1,823,527 warrants (the \"Bonus Warrants\"), each entitling the holder to acquire one common share of Rathdowney for one year at a price of $0.17 per share. The Bonus Warrants will be subject to a four month hold period, commencing on the date of issuance. The Loan and Bonus Warrants are subject to acceptance by the TSX Venture Exchange.\n\nThe Loan will be used by the Company for working capital. \n\nAbout Rathdowney and Project Olza\n\nRathdowney Resources Ltd. is focused on advancing its Olza zinc-lead-silver project (\"Project Olza\") through permitting and into production. Project Olza is located in the Upper Silesian Mining District of southwestern Poland, a world-class region of Mississippi Valley-type deposits with well-developed mining infrastructure.  Easily accessible by road, the Olza project site is a one-hour drive from Krakow, a major city with full services, including an international airport.  The deposits at Olza are 25 km from the ZGH zinc smelter at Boleslaw. Additionally, a railway line runs through the project-area, linking it to smelters throughout Europe and to ports on the Baltic Sea.  \n\nTechnical information in this release has been reviewed by David Copeland, PEng, a qualified person who is also Chairman and a Director of Rathdowney.\n\nOn behalf of the Board of Directors Robert Konski Presi...