Core Gold (CGLD.TO) has now closed the US$1.6M bridge loan provided by Credipresto, a company related to Javier Reyes, one of its directors. The proceeds were already advanced to the company in January 2018, and the deal has now been ‘officialized’. Credipresto was also awarded 800,000 share purchase warrants in Core Gold, with a strike price of C$0.365 per warrant.
Core Gold will very likely publish its Q1 results within the next few weeks, and we are looking forward to see if the company was able to continue to improve its balance sheet by using the incoming free cash flow from its gold production in Ecuador to reduce its debt and pay its bills.
Go to Core Gold’s website
The author has a long position in Core Gold. Please read the disclaimer
