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Trulan Arranges $1,000,000 Debt Financing For Development Work On The IGP Iron-Gold-Platinum Project In Chile.
Trulan Arranges $1,000,000 Debt Financing For Development Work On The IGP Iron-Gold-Platinum Project In Chile..
About this update from Trinity Resources Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\nTrulan Arranges $1,000,000 Debt Financing For Development Work On The IGP Iron-Gold-Platinum Project In Chile.\n\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\n\n\n\n\n\n\n\n\n\nTrulan Arranges $1,000,000 Debt Financing For Development Work On The IGP Iron-Gold-Platinum Project In Chile.\n\nPR Newswire\n\nHENDERSON, Nev., March 21, 2013\n\n\n\n\n\n\n\nHENDERSON, Nev., March 21, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTCPK: TRLR) (the \"Company\" or \"Trulan\") reports that it has negotiated a loan agreement with a private investment group for the provision of US$1,000,000. The funds will be provided in stages in order to further various work initiatives on the Company's IGP Project in central Chile. \n\n\nThe term of the loan is two years from the date the full amount is provided to the Company and bears an annual interest rate of 6%. Trulan has already received funds under the agreement, with further tranches to be forwarded as per scheduled intervals. \n\n\nIn addition, the loan may be converted into common shares of the Company at the discretion of the private investment group that is providing the funds at any time during the term of the loan. Conversion may be in whole or in part of the loan value and the price per each share converted is US$0.25 in the first year and US$0.50 in the second year. \n\n\nThe funds will be used to initiate the contemplated exploration plan and move toward a comprehensive mining plan and full feasibility study of the IGP Project.\n\n\n\nAbout Trulan's IGP-Iron-Gold-Platinum Project\n\n\n\nTrulan recently entered into an agreement to acquire a 100% interest in the IGP Iron-Gold-Platinum Project (\"IGP\" or the \"Project\") in the IV Region – Region de Coquimbo – of Chile. The relatively small region has a long history of mining and several operations are currently in production, including the Los Pelambres Deposit, which is the world's fifth largest copper mine. \n\n\nThe IGP Project totals 885 Hectares (2,186 Acres) of wide spread mineralization and ore bodies that contain hig...