SyCipLaw advises Greenstone Resources Corporation on US$25 million prepaid gold swap facility

January 03, 2013

SyCip Salazar Hernandez & Gatmaitan ("SyCipLaw") acted as Philippine counsel to Greenstone Resources Corporation and certain affiliated companies in connection with a US$25 million prepaid gold swap facility obtained from Credit Suisse. Drawdown occurred December 2012.

The facility is repayable over a period of 30 months commencing 6 months after drawdown. The proceeds will be committed to the award of a second earthmoving contract, to various minor capital productivity and efficiency expenditures, to the payment of a loan obtained from Sprott Resource Lending Partnership, and to general working capital.

The SyCipLaw team consisted of partner Hector M. de Leon, Jr., senior associate Melyjane G. Bertillo and associate Leah C. Abutan.