FBC and distressed debt investor acquire shares in Maudore Minerals
FBC Holdings Sàrl and Cyrus Capital Partners, a U.S. distressed debt fund manager, have acquired common shares in Maudore Minerals Ltd (TSXV: MAO), a junior gold company based in Montréal. The transaction is in connection with Maudore's restructuring of its outstanding indebtedness to FBC. Upon the deal's closing, FBC will hold, and Cyrus will indirectly control, up to 54.8 percent of the outstanding capital of the company. In a separate release, Maudore said it also is considering a number of strategic alternatives. The company has more than 22 exploration projects located near the towns of Amos, Lebel-sur-Quévillon and Matagami, Québec.
26 June 2014•4 mins read
