Midway Gold subsidiary secures $10.5 million credit facility due 2017

By Lisa Kerner

Charlotte, N.C., April 21 – Midway Gold Corp. subsidiary MDW Pan LLP secured a $10.5 million 13.5% subordinated secured non-revolving term credit facility on April 17.

The facility has a maturity date of Sept. 30, 2017.

MDW entered into a subordinated credit agreement with MDW, Hale Capital Partners, LP, HCP-MID, LLC and INV-MID, LLC, according to a form 8-K filed with the Securities and Exchange Commission.

Proceeds may be used for project costs as defined in the agreement or to make distributions and dividends.

Midway, based in Vancouver, B.C., is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America.

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