Golden Band offers investors 30Million dollars gold-linked debenture

摘要

Tight credit markets and wary investors have forced Golden Band Resources (gbn-v, gbrif-o) to try-to sell investors physical gold it hasn't yet produced through a 30-million dollars gold-linked convertible debenture. If successful, the company will have enough cash to put its 75,000-oz.-per-year La Ronge gold project, near Brabant, Sask., into production without diluting current shareholders. The company came up with the structure of the private placement itself, says Golden Band president and CEO Rodney Orr. He says the company has been shopping around since last November to strike a deal that didn't require heavy equity portions in combination with debt.