Pala Investments provides US$20 million bridge loan facility to Nevada Copper

Torys acted as counsel to Pala with a team that included Tom Zverina and Emily Atkinson.

On August 26, 2014, Nevada Copper Corp. (Nevada Copper) announced that it closed a US$20 million bridge loan facility with Pala Investments Limited (Pala).

The initial term of the facility is four months, with up to two additional two month extensions. The facility may be drawn in US$5 million tranches, with an annual interest rate of 10% and a 2.7% arrangement fee payable during the initial term. The facility is secured against Nevada Copper's assets, but is subordinate to Nevada Copper's senior credit facility.

Nevada Copper is focused on an advanced stage development copper property with substantial reserves and resources including copper, gold, silver, as well as a large iron resource.

Pala is a multi-strategy investment company dedicated to investing in, and creating value across, the mining sector in both developed and emerging markets.

Further information can be found on Nevada Copper's website.