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Ressources Appalaches: Financing Offer of US $10 Million to Advance its Dufferin Mine Project to Production
Published : November 28, 2012
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RIMOUSKI, QUEBEC--(Marketwire - Nov. 28, 2012) -

NOT FOR DISTRIBUTION TO PRESS SERVICES IN THE UNITED STATES AND NOT FOR CIRCULATION IN THE UNITED STATES

Ressources Appalaches (News - Market indicators) is pleased to announce that it has signed a term sheet for a US $10 million gold prepayment agreement with a New York based financing firm. The Loan would bear interest at a rate of 8% per annum and would be repaid by the delivery of 9,000 ounces of gold over a twenty-four month period starting the thirteenth month following the closing date. 

Proceeds from the loan will be used to resume gold production at the Dufferin Mine project in Nova Scotia, starting with the three phase work plan detailed in the Company's 43-101 Technical Report dated May 30, 2012 (press release of June 06, 2012).

The Loan is expected to close by end-January 2013 and will be secured by the Company's assets. The Loan is subject to satisfactory legal and technical due diligence. 

Ressources Appalaches will pay an upfront fee equal to 3% on the amounts drawn and 5,000,000 warrants, as well as enter in an off-take agreement for all production from the Dufferin Mine on market based pricing. The Company will have the option to buy back the off-take for US $2,000,000 one year after the fulfillment of the 9,000 ounces of gold deliveries.

The Loan was arranged by Axiom Capital Management Inc. Finder's fee equates to 5% in cash and in warrants of the amount drawn. The agreement and the issuance of all fees and shares shall be subject to the prior approval of the TSX Venture Exchange.

Alain Hupé, President & CEO commented, "With this loan once finalised, which comprises of a very limited share dilution, we will be very well positioned to proceed towards production."

About Ressources Appalaches

Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formation in Québec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.

Photos of the Dufferin Mine and its facilities are available on the Company's website at: www.ressourcesappalaches.com.

About Axiom Capital Management Inc.

Headquartered in New York, NY, Axiom Capital Management, Inc. is a FINRA registered Broker-Dealer with 63 employees and more than $1.4 billion in assets under management (AUM). With over 20 years of experience, Axiom combines broad-based transactional expertise in the industry knowledge, to provide service to their clients.

End of Contractual Services with Renmark Financial Communications

Ressources Appalaches announces that it will be terminating on November 30, 2012 its contractual agreement with Renmark Financial Communications Inc.

The contents of this press release were prepared and checked by Alain Hupé, Eng. a Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.



Alain Hupe Eng.
President
Jean-Claude Morel
Executive Vice-President
418-724-0901
info@ressourcesappalaches.com
Companies Mentionned : Metals X |
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Appalaches Resources Inc.

EXPLORATION STAGE
CODE : APP.V
ISIN : CA0379461001
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Appalaches Res. is an exploration gold company based in Canada.

Appalaches Res. holds various exploration projects in Canada.

Its main exploration properties are MILLER LAKE, MONT-DE-L'AIGLE, B20, DUFFERIN MINE and ASHINI in Canada.

Appalaches Res. is listed in Canada. Its market capitalisation is CA$ 2.0 millions as of today (US$ 1.6 millions, € 1.5 millions).

Its stock quote reached its highest recent level on December 31, 2003 at CA$ 0.31, and its lowest recent point on January 23, 2015 at CA$ 0.01.

Appalaches Res. has 202 170 000 shares outstanding.

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Annual reports of Appalaches Resources Inc.
2006 Annual report
Financings of Appalaches Resources Inc.
11/23/2012Ressources Appalaches: Modifications Made to Stock Purchase ...
2/14/2012Ressources Appalaches Completes Private Placement of $1,265,...
8/31/2011Ressources Appalaches completes private placement of $600,00...
12/23/2009$751,000 in private placements
6/23/2009Ressources Appalaches completes $347,000 private placement
12/31/2008Ressources Appalaches completes private placement of $928,00...
12/23/2008Private placement for a maximum of $1.2 M
12/31/2007Completes another private placement of $560,550
Option Grants of Appalaches Resources Inc.
5/29/2009Modifications made to stock purchase warrants and allocation...
Nominations of Appalaches Resources Inc.
11/14/2011Appointment of Ginette G. Brisson as Chief Financial Officer
10/20/2011Ressources Appalaches appointed Mr. John A. Thomas to the bo...
4/21/2011Ressources Appalaches: Resignation of a Director
12/8/2008Appointment of an engineering team for the Dufferin Mine
Project news of Appalaches Resources Inc.
7/24/2013Ressources Appalaches Progresses with its Dufferin Gold Mine
7/3/2013Ressources Appalaches Complements its Dufferin Gold Mine Tec...
6/26/2013Nominations to Ressources Appalaches Board and adds to its D...
5/28/2013(Dufferin Mine)Ressources Appalaches: Dufferin Mine Dewatering Progresses t...
5/14/2013Ressources Appalaches Proceeds on the Path to Gold Productio...
10/26/2012(Dufferin Mine)Ressources Appalaches Hires Dewatering and Underground Minin...
10/15/2012(Dufferin Mine)Ressources Appalaches Receives Dewatering Approval for its D...
9/27/2012(Dufferin Mine)Ressources Appalaches Receives Code of Practice Approval for...
2/2/2010(Dufferin Mine)116 g/t (3.7 oz/t) Au over 0.9 m and 4.15 g/t Au over 16.8 m
1/11/2010(Dufferin Mine)Drilling at the Dufferin Mine
11/23/2009(Dufferin Mine)Start of Drilling at the Dufferin Mine
7/20/2009(Dufferin Mine)Resource calculation for the Dufferin Mine
4/15/2009(Dufferin Mine)Ressources Appalaches completes the purchase of the Dufferin...
4/8/2009(Dufferin Mine)Better than 98.6% gold recovery at the Dufferin Mine
7/2/2008(Ashini)First drilling campaign on the Ashini uranium property
Corporate news of Appalaches Resources Inc.
10/30/2013Ressources Appalaches Inc.: Completion of Technical Due Dili...
9/6/2013Ressources Appalaches Announces Listing in the Frankfurt Sto...
6/17/2013Ressources Appalaches Completes Rehab of Portal and Prepares...
3/4/2013(Dufferin Mine)Ressources Appalaches Receives the Draft Loan Agreement of U...
11/28/2012(Dufferin Mine)Ressources Appalaches: Financing Offer of US $10 Million to ...
9/21/2012Ressources Appalaches Retains Renmark Financial Communicatio...
9/11/2012Ressources Appalaches will not be proceeding with the Secure...
4/24/2012(Dufferin Mine)Dufferin Mine gravity metallurgical test results of 17.7 g/t...
3/16/2012Payment of a service provider
10/22/2010Ressources Appalaches reorganizes its management
3/25/2009Processing Plant at the Dufferin Mine
2/5/2009confirms the potential of the Dufferin Mine
12/11/2008Two drills on the Dufferin Gold Mine site in Nova Scotia
12/4/2008clarification: Appalaches buys a gold producer in Nova Scoti...
12/2/2008buys a gold producer in Nova Scotia
4/20/2007is in the hunt
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