Aurizon Mines Ltd. is pleased to announce that it has established a US$50 million revolving credit facility with CIBC and The Bank of Nova Scotia. The revolving credit facility has an initial three year term and is secured by a charge over the assets of Aurizon.
Funds drawn on the facility may be used to finance working capital requirements, acquisitions, and for general corporate purposes. There are no hedging requirements under the terms of the credit facility.
“The credit facility, combined with our healthy cash position and strong operational cash flow, will allow continued development of our pipeline of projects as well as pursuing other opportunities.” said David Hall, Aurizon’s CEO.