Orion Mine Finance announces purchase of common shares of Red Eagle Mining Corporation

Torys acted as counsel to Orion Mine Finance with a team that included Michael Pickersgill, Peter Danner and Shane Attersley (corporate/mining), Tom Zverina and Robert Fatt (lending).

On March 25, 2015, Red Eagle Mining Corporation (Red Eagle) entered into a US$65 million construction financing with Orion Mine Finance (Orion) for Red Eagle's Santa Rosa gold project in Colombia. The financing includes a private placement of common shares and a secured US$60 million credit facility. In connection with the credit facility, Red Eagle will pay Orion a production payment of US$30 per ounce on the first 405,000 ounces of gold produced from the project.

The closing of the transaction is subject to TSX Venture Exchange approval and other customary conditions.

Red Eagle is a gold exploration and development company focused on discovering and developing gold projects with low costs and low technical risks in Colombia.

Orion Mine Finance is a mining focused business with approximately $1.8 billion under management specializing in providing flexible capital investment solutions to junior mining companies in the base and precious metals sector.

Further information can be found on Red Eagle's website.