Conyers provided Bermuda law advice to RK Mine Finance, a division of Red Kite acting through its special purpose vehicle RK Mine Finance Master Fund I Limited, a Bermuda company (“Red Kite”) to provide a secured project debt facility for a total of US$250 million to Continental Gold Inc. (TSX: CNL)(OTCQX: CGOOF) (“Continental Gold”).
Continental Gold acted through its wholly-owned Bermuda subsidiary Continental Gold Limited. The project debt facility will be used for the development, construction and working capital requirements for Continental Gold’s Buriticá gold mining project in Antioquia, Colombia. Red Kite and Continental Gold entered into a definitive credit agreement on 10 January 2017.
RK Mine Finance provides bespoke financing solutions to base and precious metals focused mining companies including bridge finance, construction finance, expansion funding, working capital and acquisition facilities.
Jason Piney (Picture) and Cathryn Minors of Conyers’ Bermuda office advised on the matter, working alongside Norton Rose Fulbright Canada LLP.
Cassels Brock was Canadian counsel to Continental Gold Inc. with a team that included David Budd, Patience Omokhodion, Carla Potter and Jenna Clark (Financial Services), Jay Goldman, Cathy Mercer and Lindsay Clements (Securities) and Chris Norton (Tax).
Involved fees earner: David Budd – Cassels Brock & Blackwell LLP; Patience Kalu Omokhodion – Cassels Brock & Blackwell LLP; Carla Potter – Cassels Brock & Blackwell LLP; Jenna Clark – Cassels Brock & Blackwell LLP; Jay Goldman – Cassels Brock & Blackwell LLP; Cathy Mercer – Cassels Brock & Blackwell LLP; Lindsay Clements – Cassels Brock & Blackwell LLP; Christopher Norton – Cassels Brock & Blackwell LLP; Jason Piney – Conyers Dill & Pearman; Cathryn Minors – Conyers Dill & Pearman;