IBD ARTICLE DATED 3/23/98:
I don't usually post to this group and am not a shareholder but did find this article today so thought I would scan and post for the thread. I try to fix any mistakes that occur from the scan but may miss a few.
ALTA GOLD C0.
ALTA GOLD Co.
ANNOUNCES $24.4 MILLION
PROPOSED LOAN FACILITY
HENDERSON, NV - Alta Gold Co.
(Nasdaq National Market: ALTA) an-
nounced that it has signed a term sheet
for a $24.4 million production financing
and working capital facility with a con-
sortium of lenders led by Gerald Metals,
Inc. The proposed loan facility is com-
prised of three components-a term loan,
a working capital loan and an equipment
loan.
The purpose of the proposed loan
facility is to put Olinghouse into produc-
tion in the third quarter of 1998. Con-
summation is contingent upon
completion of customary due diligence
and loan documentation, with closing
expected to take place within thirty days.
Mr. Robert N. Pratt, President and
Chief Executive Officer of Alta Gold,
stated: "Qbtaining this loan facility will
alow us to put Olinghouse into produc-
tion and also presents an independent
affirmation of both the expected profita-
bility of Olinghouse as well as the future
potential of the Company."
The Company is engaged in the
exploration, development, mining and
production of gold on properties in
Nevada. The Company also has three
base metals properties in the western
United States which are in various
stages of development.
CONTACT: Margo Bergeson, Director-
Investor Relations, (702)433-8525
READER SERVICE # 77 |
