Daily News: March 26, 2014

Capital Financial To Provide Gold Rush Refiners Facility

Capital Financial Global announced that it signed a letter of intent to provide a $1 million revolving secured credit facility to Gold Rush Refiners, a distressed Georgia based gold and precious metals refinery. The facility will be offered exclusively for the purpose of acquiring gold and precious metals inventory and will be secured by both the inventory itself, and a senior position on the refinery.

The credit facility will be funded using a syndicated loan participation, with Capital Financial Global as the lead lender.

“Now that we own more than $5 million of debt in Gold Rush Refiners, we want to make sure they regain profitability and have the cash-flow to make the debt payments,” said Paul Edward Norat, CEO of Capital Financial Global. “This revolving credit facility will give them the ability to increase their buying capacity and let them resume purchasing the gold and precious metals inventory that feeds their entire refining operation. Putting this facility in place will give us the ability to structure a loan workout schedule that will be mutually beneficial.”

Atlanta-based Gold Rush Refiners is a precious metal refiner.