Mega Precious Metals inks $40 mln funding deal with Pacific Road Resources Funds

Mega Precious Metals Inc (TSX Venture: MGP) has secured an initial US$3 million in convertible note financing, and an option for additional investment up to a total of US$40 million, from Pacific Road Resources Funds, which is managed by mining-focused private equity firm Pacific Road Capital Management. The funding is intended to support development of the company's flagship Monument Bay Gold Tungsten Project in Manitoba. Osler, Hoskin & Harcourt LLP is acting for Pacific Road in the deal. Based in Thunder Bay, Ontario, Mega Precious Metals is an explorer and developer of Canadian precious metal projects. Pacific Road has its headquarters in Sydney, Australia, and offices in Vancouver, B.C. and San Francisco, California.

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