Toronto-listed Trillion Resources has placed a $6-million debenture with the Emerging Markets Gold Fund (EMGF).
EMGF is a private investment fund with a mandate to invest in gold mining projects in developing countries.
As part of the transaction, EMGF will be entitled to nominate one director to the Trillion board.
Trillion will use the proceeds from the debenture to purchase 6 million shares of West Witwaterstrand Gold Holdings, pursuant to its previously announced transaction with Consolidated Mining and West Wits. It will also buy 466,666 common shares of Oliver Gold (VSE), plus warrants to acquire an additional 233,333 common shares of that junior.
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