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Crystal Peak Minerals Closes First Tranche of US$10 Million Convertible Loan

Published: 07/20/2018

Team: Alexander Pizale, Pamela Hojilla, Peter J. Sullivan, Carla Potter

On July 20, 2018, Crystal Peak Minerals Inc. entered into a convertible loan agreement with EMR Capital Investment (No.5B) Pte. Ltd., an affiliate of EMR Capital Resources Fund 1, LP, its largest shareholder. Pursuant to the loan agreement, EMR has agreed to lend Crystal Peak up to US$10 million in two tranches. The closing of the first tranche of the loan was completed in the amount of US$5 million.

The principal on the amount of the loan, in whole or in part, is convertible into common shares of Crystal Peak at the option of the holder, at a price per common share of C$0.50.

Cassels Brock acted for Crystal Peak with a deal team that includes Alexander Pizale and Pamela Hojilla (Securities and Mining) and Peter Sullivan and Carla Potter (Financial Services).