May 26, 2023: RiverFort is pleased to announce that it has arranged a Mezzanine Loan Facility with Cadence Minerals Plc for up to US$ 10 million, with a First Tranche of US$ 2 million.
Cadence, listed on the Alternative Investment Market (AIM) of the London Stock Exchange, will invest the net proceeds of the Loan Facility into the development of the Amapá Iron Ore Project in Brazil. This investment will increase Cadence’s stake in the project to circa 33%.
Each drawdown has a 24-month term ("Maturity Date"), with a 6-month principal repayment holiday, followed by 18 equal monthly cash repayments thereafter to the Maturity Date.
Cadence Minerals explores for and invests in the strategic minerals that power the technology of tomorrow. Identifying assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. By investing strategically in companies, and funding specific JV projects they offer a portfolio that balances risk and upside potential. Cadence use the gains from successful investments to fund our exploration for world class assets.