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BRIEF-Red Mountain Mining signs new strategic financing agreement

Published 15/10/2015, 11:44 am
© Reuters.  BRIEF-Red Mountain Mining signs new strategic financing agreement

Oct 15 (Reuters) - Red Mountain Mining Ltd RMX.AX :

* Red Mountain signs new strategic financing agreement RMX.AX

* Says new strategic financing agreement signed, increases stage 1 funding to US$1.7 million

* Red Mountain to be repaid US$850,000 of loaned funds plus interest by 27 November 2015

* Says funding secured to initiate high-grade gold target drilling and complete dfs and permitting

* Red Mountain rmms and bluebird have varied loan agreement that covers any shortfall in stage 1 funding by bluebird from June to November 2015

* Says bluebird will then have two alternative options to increase equity in rmms to 50.1%

* Source text for Eikon ID:nASX13lBpB

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