Extract Capital leads $20 mln refinancing of Energold Drilling
Canadian specialty drilling company Energold Drilling Corp (TSV-V: EGD) has agreed to receive a $20 million secured convertible loan in a deal led by Extract Capital, a U.S. natural resources investment firm. Extract will account for $15 million of the loan, the rest of which will be provided by a syndicate of existing debenture holders, new investors and others. With the deal's closing in March, Extract will be entitled to nominate one board member. Vancouver-based Energold, which serves the mining, energy, water, infrastructure and manufacturing sectors, said the proceeds will be used to repay its current loans and credit facilities.
15 February 2017•4 mins read
