LOS ANGELES, CA — (MARKET WIRE) — 02/02/11
Pavilion Energy Resources, Inc. (PINKSHEETS: PVRE) has been offered an equity line of credit from an Asian-based Finance Institution . This strong funding group has a presence in the natural resource space and has previously completed transactions totaling over $3 billion .
The transaction contemplated in the signed LOI will be secured via a binding $50 million purchase obligation, which can be drawn down at increasing share prices as the company meets development milestones.
Financing will be injected by way of placements over a three year period as projects mature.
The proposed placement facility carries no obligation to dilute at any chosen share price and funding will be available at any time for drawdown.
President Mr. Sterling stated: “We are excited about this financing as it represents “The Dawn of A New Day” for PVRE and its shareholders and adds immediate shareholder value.”
The Company can shortly begin to execute its business plans without concern about cash availability. This financing completely removes the funding issue off the table as a roadblock to PVRE’s development.
Upon execution of this proposed financing arrangement the company will immediately begin to execute the development plans in PVRE’s three business divisions;
1. Iron Ore-Gold Mining.
2. Accelerated Wind Energy.
3. Wind-Powered Green Aluminum Smelters.
Management expects to execute definitive contracts within 14 days.
See information at: www.pvre.biz