bcMetals Corporation

bcMetals Corporation

January 08, 2007 08:45 ET

bcMetals Enters Into Funding Agreement With Imperial Metals Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 8, 2007) - bcMetals Corporation (TSX VENTURE:C) announced today that it has entered into an interim funding agreement with Imperial Metals Corporation for an unsecured line of credit for up to $3 million. Each advance under the line of credit bears interest at prime and all amounts owing under the line of credit will be repayable on or before the maturity date of June 30, 2007. Subject to the occurrence of an event of default, no amounts are payable by bcMetals until June 30, 2007. All amounts advanced may be prepaid at any time without penalty. The interim funding agreement contains customary events of default. In light of procuring this unsecured line of credit, bcMetals has elected not to proceed with the private placement previously announced on January 3, 2007.

Ian Smith, President and Chief Executive Officer

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Contact Information

  • bcMetals Corporation
    Ian Smith
    President and Chief Executive Officer
    (604) 683-0140
    (604) 683-0126 (FAX)
    Website: www.bcmetalscorp.com