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Stocks in play: Erdene Resource Development Corp

Baystreet.ca

Announced an $8-million financing package, led by the European Bank for Reconstruction and Development. Erdene has entered into a definitive Loan Agreement for a $6.6-million Convertible Loan with the EBRD. Additionally, Erdene intends to complete a coincident non-brokered private placement of units of the Company for maximum proceeds of $1.6 million. Proceeds of the financing package will be used to fund the independent Feasibility Study and Front-end Engineering and Design of the Company's Khundii Gold Project, exploration, acquisition, and for general working capital purposes. Erdene Resource Development Corp shares T.ERD are trading unchanged at $0.20.