Tuesday, July 2, 2013

USA, Nevada:

Ram Power, Corp. Announces Agreement With Project Lenders to Extend Construction Loan Period for San Jacinto-Tizate (News Release)

San Jacinto-Tizate (Courtesy Ram Power)
Ram Power, Corp. announced today that the company reached an agreement with its project lenders syndicate, led by the International Finance Corporation, to amend its Phase II Credit Agreement for the San Jacinto-Tizate Project in the northwest of Nicaragua.

Ram Power and the lenders reached an agreement to amend its Phase II Credit Agreement for Project to extend the date for conversion of the construction loan to a term loan from June 29, 2013 to July 31, 2013. The amendment provides for sufficient time for the Company and lenders to modify and obtain credit committee approvals for certain conditions precedent associated with the loan documents for conversion.

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