[miningmx.com] – CONTINENTAL Coal has appointed a special board committee to review funding proposals aimed at refinancing the company’s convertible debentures worth $15m which mature from November to February.
“We are encouraged by the number of funding proposals received and therefore appointed the special board committee to oversee the final stage of negotiations to ensure the most appropriate funding alternative is selected,” said Don Turvey, CEO of Continental Coal.
The special board, which consists of independent non-executive directors Ron Chamberlain, Mike Kilbride and Johan Bloemsma, intend to have a bind offer from a lender by the end of November.
