Firstgold Corp. (FGD.TO, FGOC.OB) announced that it has arranged a US$ 15.75 million senior secured note facility with two US-based investment funds, which is fundable in five tranches, the first of which closed for aggregate gross proceeds of $6.74 million.
Fifteen million common share purchase warrants having a three year term and exercise price of $0.4357 per share were also issued today to the Lenders.
The second advance under the Loan in the amount of $5.26 million is expected to occur on or before August 30, 2008.
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