Tantalex Announces ABL with Finexcorp
Tantalex Resources announced that it completed a $471,742 ($500,000 Canadian dollars) asset-based credit facility with Finexcorp. The facility provides for short-term borrowings on a revolving basis for up to $471,742 ($500,000 Canadian dollars), is subject to a borrowing base comprised of accounts receivable and is secured by a movable hypothec.
The company plans to use the credit facility on an interim basis for liquidity purposes to ensure the continuity of its operational schedule.
Montreal-based Tantalex is a mining exploration and development company engaged in the acquisition, exploration and development of Tantalum and Niobium properties in Africa.