Printer Friendly

HORIZON GOLD ARRANGES FINANCING

 HORIZON GOLD ARRANGES FINANCING
 GOLDEN, Colo., June 2 /PRNewswire/ -- Horizon Gold Corp.


(NASDAQ-NMS: HRIZ) today announced that it has arranged financing for its wholly owned subsidiary, Horizon Potash Corp. (HPC), whereby CIT Group/Equipment Financing, a New York corporation, provided a $4.0 million loan to HPC. Interest on the unpaid principal amount will be at 9.29 percent per annum, with principal and interest to be paid in 36 consecutive monthly installments. The first installment is due on June 29, 1992.
 Proceeds from the loan will be used to retire a portion of the short term notes that were issued earlier by Horizon in connection with its acquisition of HPC from AMAX Inc., and for working capital purposes.
 Horizon Gold, a diversified mining company, is involved in the exploration, development, and production of precious metals, base metals, and industrial minerals, primarily in the United States. The company's stock in listed on the NASDAQ National Market System under the symbol "HRIZ."
 -0- 6/2/92
 /CONTACT: Dick Ryan of Horizon Gold, 303-239-8701/
 (HRIZ) CO: Horizon Gold Corp.; CIT Group/Equipment Financing ST: Colorado, New York IN: MNG SU: FNC


BB -- DV004 -- 6061 06/02/92 09:02 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 2, 1992
Words:198
Previous Article:SAFEWAY COMMEMORATES AMERICA'S 500th BIRTHDAY WITH COMMUNITYWIDE PROGRAM
Next Article:LIDAK PHARMACEUTICALS RAISES $8.4 MILLION FROM EXERCISE OF WARRANTS
Topics:


Related Articles
HORIZON GOLD ANNOUNCES SECOND QUARTER RESULTS
HORIZON GOLD CORP. SIGNS LETTER OF INTENT WITH AMAX INC.
HORIZON GOLD SIGNS JOINT VENTURE ON ITS BUFFALO VALLEY PROPERTY
HORIZON GOLD COMPLETES PURCHASE OF AMAX POTASH
HORIZON REPORTS YEAR END RESULTS
HORIZON GOLD REPORTS PROFIT FROM OPERATIONS OF $2.2 MILLION, BEFORE NON-CASH CHARGES AND INTEREST
HORIZON GOLD ANNOUNCES RETIREMENT OF JOHN E. WATSON
HORIZON RESOURCES CORP. ANNOUNCES RESULTS
HORIZON RESOURCES REPORTS RESULTS
Fleet arranges $180.2m financing for 2 Gold Street.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters